The Resolution Professional (RP) of Reds Marine Services Limited filed an application seeking initiation of liquidation process for the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 2020-11-06. The initial period of 180 days expired on 2021-05-11. The Committee of Creditors (COC) did not approve the issuance of Expression of Interest (EOI) because the Corporate Debtor did not have tangible assets and its holding and subsidiary companies were also undergoing CIRP. In the fourth meeting of COC, after the expiry of 180 days, the COC approved the proposal for liquidation and recommended the appointment of RP as Liquidator.
The Resolution Professional (RP) of Reds Marine Services Limited filed an application seeking initiation of liquidation process for the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 2020-11-06. The initial period of 180 days expired on 2021-05-11. The Committee of Creditors (COC) did not approve the issuance of Expression of Interest (EOI) because the Corporate Debtor did not have tangible assets and its holding and subsidiary companies were also undergoing CIRP. In the fourth meeting of COC, after the expiry of 180 days, the COC approved the proposal for liquidation and recommended the appointment of RP as Liquidator. The applicant's counsel stated that all necessary regulations of CIRP Regulations 2016 had
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Corporate Debtor was…
The initial period of…
The Resolution Professional (RP) of Reds Marine Services Limited filed an application seeking initiation of liquidation process for the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 2020-11-06. The initial period of 180 days expired on 2021-05-11. The Committee of Creditors (COC) did not approve the issuance of Expression of Interest (EOI) because the Corporate Debtor did not have tangible assets and its holding and subsidiary companies were also undergoing CIRP. In the fourth meeting of COC, after the expiry of 180 days, the COC approved the proposal for liquidation and recommended the appointment of RP as Liquidator.
The Resolution Professional (RP) of Reds Marine Services Limited filed an application seeking initiation of liquidation process for the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 2020-11-06. The initial period of 180 days expired on 2021-05-11. The Committee of Creditors (COC) did not approve the issuance of Expression of Interest (EOI) because the Corporate Debtor did not have tangible assets and its holding and subsidiary companies were also undergoing CIRP. In the fourth meeting of COC, after the expiry of 180 days, the COC approved the proposal for liquidation and recommended the appointment of RP as Liquidator. The applicant's counsel stated that all necessary regulations of CIRP Regulations 2016 had
…Corporate Debtor was…
The initial period of…