Tag Archives: Moratorium

In Parts I and II, I had discussed the provisions of Section 14 of the Insolvency and Bankruptcy Code prior to the Insolvency and Bankruptcy Code (Ordinance), 2019, and the changes introduced to Section 14 by the Ordinance on the aspect of termination of contracts during the CIRP period. In this final Part, I lookContinue reading “Termination of Contracts During Corporate Insolvency Resolution Process: Part III”

In Part I, I had discussed the regime under the unamended Section 14 governing the issue of termination of contracts. In this Part, I discuss the amendments to Section 14 introduced by the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 and retained by the Insolvency and Bankruptcy Code (Amendment) Act, 2020. The Ordinance inter aliaContinue reading “Termination of Contracts During Corporate Insolvency Resolution Process: Part II”

The commencement of corporate insolvency resolution process under the Insolvency and Bankruptcy Code (“Code”) results in a moratorium, inter alia, on any coercive action against the assets of the corporate debtor. The moratorium is aimed at ensuring that the corporate debtor continues as a going concern, which in turn enhances the possibility of revival ofContinue reading “Termination of Contracts During Corporate Insolvency Resolution Process: Part I”