PREFERENTIAL TRANSACTIONS AND NATURE OF DEBT UNDER A MORTGAGE SECURING OBLIGATIONS OF A THIRD PARTY
In the case of Anuj Jain Interim Resolution Professional for Jaypee Infratech Limited v. Axis Bank Limited Etc., the Supreme Court had occasion to examine (i) certain provisions relating to preferential, fraudulent and undervalued transactions contained in the Insolvency and Bankruptcy Code, 2016 (‘IBC’) and (ii) the issue pertaining to existence of a financial debt …
CHALLENGES FACED BY A SUCCESSFUL RESOLUTION APPLICANT AFTER APPROVAL OF A RESOLUTION PLAN
Despite the best of intentions towards addressing the preservation of value of businesses, and addressing the ills of financially unviable businesses being allowed to continue over prolonged periods, the Insolvency and Bankruptcy Code, 2016 (IBC) is at times found to fall short in implementation of a resolution plan, both after approval of the resolution plan …
COVID-19: Checklist for Invoking Force Majeure Provisions under the Contract
The unprecedented global pandemic which has resulted from COVID-19 has led to uncertainties and government actions which have severely impacted businesses and are likely to continue to do so for the foreseeable future. In India, the National Disaster Management Authority has issued an order dated 24 March, 2020 (“NDMA Order”) followed by the Ministry of …
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THE LEGALESE OF LOCKDOWN
The COVID-19 pandemic is an unprecedented global crisis. India has also been severely hit by this and the government has had to take some extraordinary measures, including closing commercial establishments, public markets and educational institutions and restricting movement of public by imposing a lockdown. The government is using the powers granted under the Criminal Procedure …
COVID-19 -an excuse not to perform contractual obligations?
Covid-19 has been declared as pandemic by WHO. The pandemic has caused the global markets tumble and triggered massive government intervention for saving the economy as the economic activity sharply fell and panic spurred in financial markets. Many businesses now face situations where it is much more onerous or near to impossible to perform their …
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Coronavirus and its impact on the performance of commercial contracts from a UAE legal perspective
Force Majeure comes from a French term that literally translates to “greater force” and are commonly included within commercial contracts. The term Force Majeure in a legal context excuses a party from not performing its contractual obligations that have become impossible or impracticable because of an event that the parties have not foreseen. Force Majeure …
Chinese Antitrust Review of Joint Ventures
Author: Wang, Juan Joint ventures (JV) are a major form of foreign investment. Even if you plan to establish a JV outside of China, you cannot ignore Chinese antitrust law because it applies abroad and has no statute of limitation. This article will outline the basic standards and procedures of Chinese antitrust review of a …
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CGUE C-395/18: on the automatic exclusion of the subcontractor without the requirements
With the sentence dated the 30th of January 2020, the European Court of Justice was called to comment on the provision of the Public Contracts Code which contains the automatic exclusion of the competitor for the tender, which indicated a subcontractor then found to be without the requirements.
Don’t Miss Out New Electronic Insurance Policies In UAE!
A few manage to attract you and subsequently, millions of mobile applications are available to offer insurance policies, compare insurance prices and provide you with tailor-made insurance products.
Legal Consultants in Dubai: Petitions on Behalf of their Client
The civil procedures law gives the lawyer the right in any litigation in Dubai or in any other emirate in the UAE to file at least two objections against any of the court judgments. The first objection should be to the appeal court and the second one could be to the Supreme Court.