IBC mechanism needs structural changes to expedite faster resolution of companies
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Synopsis
The structural reforms needed are an increase in the number of benches, outsourcing of administration function to a specialized agency, clarity on the timeline for submission of objections on resolution plan and credible data management on on-going cases which will help in ironing out major creases that thwart the faster resolution of cases.
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The rate of filing of new cases has far exceeded the rate of closure of ongoing cases, resulting in nearly 75% of the 1,942 ongoing cases having aged more than 270 days.
Mumbai: Even as the economy post the pandemic led lockdown is trudging back to normalcy, there is an urgent need to have structural reforms in the Insolvency & Bankruptcy Code (IBC) for the resolution of cases faster, a report authored by experts said.
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Polsinelli PC issued the following announcement on Jan. 21.
Am Law 100 firm Polsinelli has been honored with two awards by Global M&A Network: “Cross-Border M&A Deal of the Year” and “Chapter 11 Restructuring of the Year.” Both awards are in the mid-markets category. The firm was recognized at the 12th Annual Intelligence Forum virtual event on Jan. 21, 2021.
Polsinelli’s recognition as the “Cross-Border M&A Deal of the Year” (mid-markets category) was awarded for its representation of Orchids Paper Products Company, including Fabrica de Papel, a U.S. publicly traded paper company, in the sale of substantially all of the company’s assets under Bankruptcy Code Section 363 to Cascades, a Canadian-based, publicly-traded company focused on offering sustainable, innovative and value-added solutions for packaging, hygiene and recovery needs.. Polsinelli served as lead counsel to Orchids Paper in the transaction, which paved the way for a consensual Chapter 11 p
With a new year, comes a welcome new appointment for a local post primary school.
Louth and Meath Education and Training Board (LMETB) is delighted to announce the appointment of Ms Trudy Rossiter as Deputy Principal at St Oliver s Community College, Drogheda. Trudy joins the other members of the Leadership and Management Team of the school, Mr John Halpin, Principal, Mr John Heeney, Deputy Principal and Mr Ian Gardiner, Deputy Principal.
As a Deputy Principal within the LMETB Schools Directorate, Trudy will also have the collegial support of the Senior Management teams in LMETB s other seventeen Post Primary schools, four Community National Schools, two PLC colleges and the Centre for European Schooling in Dunshaughlin.
Gibson Dunn’s Middle East practice focuses on regional and global multijurisdictional transactions and disputes whilst also acting on matters relating to financial and investment regulation. Our lawyers, a number of whom have spent many years in the region, have the experience and expertise to handle the most complex and innovative deals and disputes across different sectors, disciplines and jurisdictions throughout the Middle East and Africa.
Our corporate team is a market leader in MENA mergers and acquisitions as well as private equity transactions, having been instructed on many of the region’s highest-profile buy-side and sell-side transactions for corporates, sovereigns and the most active regional private equity funds. In addition, we have a vibrant finance practice, representing both lenders and borrowers, covering the full range of financial products including acquisition finance, structured finance, asset-based finance and Islamic finance. We have th
Kids causing havoc on the streets could meet the community they are harming
A new police team has been launched to deal with those committing anti-social behaviour and hate crime
04:00, 12 JAN 2021
Updated
Police officers in Bilborough (Image: Nottingham Post/Marie Wilson)
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Youngsters who blight the streets they live in with anti-social behaviour could end up meeting the residents they are harming.