CoC autonomy in insolvency: CoC may decide liquidation prior to plan confirmation and section 65 targets malicious filings. Committee of Creditors autonomy over liquidation is recognized: the CoC may lawfully decide liquidation under Section 33(2) before confirmation of a ... Summary
CoC autonomy in insolvency: CoC may decide liquidation prior to plan confirmation and section 65 targets malicious filings.
Committee of Creditors autonomy over liquidation is recognized: the CoC may lawfully decide liquidation under Section 33(2) before confirmation of a resolution plan, and Section 65 requires clear evidence of filings made for purposes other than insolvency resolution before imposing penal consequences.
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