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Fox Mandal | India | 30 Oct 2023

IBBI Paper: 16 Proposals to Strengthen the Liquidation Process

The changes proposed seek to address the existing issues and safeguard the interests of stakeholders. The comments on the proposals and the draft…
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Gan Partnership | Malaysia | 10 Oct 2023

Is leave of court required for proceedings against a liquidator?

When a company is wound up by the court, the court will appoint a liquidator to manage the affairs of the company. It is crucial for the liquidator to focus on their duties without any interference from other parties. There were previously two conflicting judicial decisions on whether prior leave of court is required before commencing proceedings against a court-appointed liquidator. The......
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Conyers | Hong Kong | 4 Oct 2023

A Clever Shortcut? Thoughts on the China Properties Group Case

In the case of Re China Properties Group Limited (in Liquidation) [2023] HKCFI 2346, the Hong Kong Court has shown its commitment to providing…
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ENS | South Africa | 15 Aug 2023

The consequences of breaching a “Mushaarakah” agreement?

In Albaraka Bank v New Turn Investments (Pty) Ltd, the Honourable Justice Mossop granted an order and ex tempore judgment in the High Court of South…
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Mason Hayes & Curran LLP | Ireland | 1 Aug 2023

Personal Liability of Liquidators For Adverse Costs Orders

There are certain circumstances where liquidators can be held personally liable for costs orders made in proceedings taken by them. Under the so…
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Corrs Chambers Westgarth | Australia | 20 Jul 2023

Liquidators get the green light for litigation funding agreements

In this week's TGIF, we consider Jahani, in the matter of Ralan Property Services Pty Ltd (receivers and Managers Appointed) (in liq) [2023] FCA 738…
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LutherSA | Luxembourg | 20 Jun 2023

Court of Appeal rules on conditions for obtaining judicial revocation of liquidator on ground of majority abuse

In late 2022, the Court of Appeal ruled on the conditions for (on the ground of majority abuse) obtaining a judicial revocation of liquidators of a company appointed by a resolution of the shareholders' meeting. The case concerned a dispute opposing the minority shareholder of a company on one side and the company and its liquidators on the other. In its decision, the Court simplified the......
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JSA | India | 24 Feb 2023

Certain employee statutory dues are not a part of the “liquidation estate” of a corporate debtor

In the case of State Bank of India v. Moser Baer Karamachari Union & Ors., the Supreme Court of India ("Supreme Court") has upheld the order of the…
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Rajah & Tann Asia | Malaysia | 16 Feb 2023

Winding Up Court Directions Given to the Liquidator Affecting Substantive Rights of Parties are Now Appealable

The role of the liquidator is to realise the assets of the company and from the sale proceeds, pay off creditors of the company. If a difficulty…
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Mourant | Guernsey | 13 Jan 2023

Changes to voluntary liquidation in Guernsey

This Update provides an overview the recent changes to Guernsey's insolvency regime affecting voluntary liquidations. Introduction The Companies…
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