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IBC - Bharati Defence’s Insolvency: The Confusing Message On Creditor-Led Recoveries
Bad facts make bad law—Bharati Defence’s insolvency is a textbook example of this.
07 Feb 2019, 03:57 PM IST
Bad facts make bad law. The National Company Law Tribunal’s decision in Bharati Defence and Infrastructure Ltd.’s insolvency case is a textbook example of that.Bad facts: Conflict of interest between the resolution applicant, financial creditor and resolution professional. Huge fee to the resolution professional. No viable resolution plan. Discriminatory treatment to operational creditors and government dues.Bad law: Fate of creditor...
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