The Resolution Professional filed an application seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period, in addition to the 330 days that expired on February 29, 2020. The application is based on a Committee of Creditors (CoC) resolution passed on February 11, 2020, with a 94.03% voting share.
The Resolution Professional filed an application seeking a 90-day extension to the CIRP period, which had already lasted 330 days and expired on 2020-02-29. The application was supported by a CoC resolution passed on 2020-02-11, with 94.03% voting share. The CoC indicated that two resolution plans were under consideration and believed that an extension would increase the likelihood of approving a resolution plan. The court considered the CoC's view and the status of the resolution plans.
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The Committee of Creditors (CoC) passed a…
The initial 3…
The Resolution Professional filed an application seeking a 90-day extension of the Corporate Insolvency Resolution Process (CIRP) period, in addition to the 330 days that expired on February 29, 2020. The application is based on a Committee of Creditors (CoC) resolution passed on February 11, 2020, with a 94.03% voting share.
The Resolution Professional filed an application seeking a 90-day extension to the CIRP period, which had already lasted 330 days and expired on 2020-02-29. The application was supported by a CoC resolution passed on 2020-02-11, with 94.03% voting share. The CoC indicated that two resolution plans were under consideration and believed that an extension would increase the likelihood of approving a resolution plan. The court considered the CoC's view and the status of the resolution plans.
The Committee of Creditors (CoC) passed a…
The initial 3…