Section 10 IBC filings need proof of fraud for malicious intent claims, ET LegalWorld
The National Company Law Appellate Tribunal has held that the mere fact that the application is filed, consequent of which the recovery proceedings may be halted, cannot lead to the conclusion that the intent and purpose of the application are malicious and fraudulent. The appellate tribunal had to consider whether the rejection of Section 10 […]
Bankruptcy Filings Rise 16.2 Percent
Personal and business bankruptcy filings rose 16.2 percent in the twelve-month period ending June 30, 2024, compared with the previous year. According to statistics released by the Administrative Office of the U.S. Courts, annual bankruptcy filings totaled 486,613 in the year ending June 2024, compared with 418,724 cases in the previous year. Business filings rose […]