1-Basic Framework of Insolvency laws in India.pptx
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The document summarizes key aspects of the Insolvency and Bankruptcy Code introduced in India in 2016. It outlines the process for initiating a corporate insolvency resolution process (CIRP) by financial creditors, operational creditors, or the corporate debtor itself. It describes the roles of the interim resolution professional, committee of creditors, and resolution plans. The document also discusses liquidation processes if no resolution plan is approved, including the liquidator inviting claims, verifying claims, and distributing assets according to priority. It concludes by noting companies can opt for voluntary liquidation and are dissolved once winding up is complete.
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1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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University of the Philippines College of Law
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Presentation (1).pptx Human rights of LGBTQ people in India, constitutional a...
Human rights of LGBTQ people in India, constitutional and judicial approach
Sangyun Lee, 'Why Korea's Merger Control Occasionally Fails: A Public Choice ...
Presentation slides for a session held on June 4, 2024, at Kyoto University. This presentation is based on the presenter’s recent paper, coauthored with Hwang Lee, Professor, Korea University, with the same title, published in the Journal of Business Administration & Law, Volume 34, No. 2 (April 2024). The paper, written in Korean, is available at <https://shorturl.at/GCWcI>.
Matthew Professional CV experienced Government Liaison
As an experienced Government Liaison, I have demonstrated expertise in Corporate Governance. My skill set includes senior-level management in Contract Management, Legal Support, and Diplomatic Relations. I have also gained proficiency as a Corporate Liaison, utilizing my strong background in accounting, finance, and legal, with a Bachelor's degree (B.A.) from California State University. My Administrative Skills further strengthen my ability to contribute to the growth and success of any organization.
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◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
7:个人信誉贷款加10分
8:在国家人才网主办的国家网络招聘大会中纳入资料，供国家高端企业选择人才
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What are the common challenges faced by women lawyers working in the legal pr...
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"Lifting the Corporate Veil" is a legal concept that refers to the judicial act of disregarding the separate legal personality of a corporation or limited liability company (LLC). Normally, a corporation is considered a legal entity separate from its shareholders or members, meaning that the personal assets of shareholders or members are protected from the liabilities of the corporation. However, there are certain situations where courts may decide to "pierce" or "lift" the corporate veil, holding shareholders or members personally liable for the debts or actions of the corporation.
Here are some common scenarios in which courts might lift the corporate veil:
Fraud or Illegality: If shareholders or members use the corporate structure to perpetrate fraud, evade legal obligations, or engage in illegal activities, courts may disregard the corporate entity and hold those individuals personally liable.
Undercapitalization: If a corporation is formed with insufficient capital to conduct its intended business and meet its foreseeable liabilities, and this lack of capitalization results in harm to creditors or other parties, courts may lift the corporate veil to hold shareholders or members liable.
Failure to Observe Corporate Formalities: Corporations and LLCs are required to observe certain formalities, such as holding regular meetings, maintaining separate financial records, and avoiding commingling of personal and corporate assets. If these formalities are not observed and the corporate structure is used as a mere façade, courts may disregard the corporate entity.
Alter Ego: If there is such a unity of interest and ownership between the corporation and its shareholders or members that the separate personalities of the corporation and the individuals no longer exist, courts may treat the corporation as the alter ego of its owners and hold them personally liable.
Group Enterprises: In some cases, where multiple corporations are closely related or form part of a single economic unit, courts may pierce the corporate veil to achieve equity, particularly if one corporation's actions harm creditors or other stakeholders and the corporate structure is being used to shield culpable parties from liability.
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- 2. Insolvency and Bankruptcy Code was introduced in 2016. Provides with a mechanism to initiate an insolvency resolution process in the event a debtor is unable to pay its debts or if the Company on its own wants to liquidate itself. Initiation of CIRP at the behest of Financial Creditor (Section 7)
- 3. Initiation of CIRP at the behest of Operational Creditor subject to issuance of demand letter (Section 8) Initiation of CIRP at the behest of the Corporate Debtor (Section 10) Moratorium declared under Section 13 Interim Resolution Professional is appointed under Section 16
- 4. IRP constitutes a Committee of creditors (‘CoC’). An Information memorandum is prepared (section 29) Resolution Plans are submitted by applicants, one of which is approved by CoC and subsequently by the NCLT. (Section 30)
- 5. However, if no resolution plan is received or approved by NCLT, order for liquidation is passed and a Liquidator is appointed. (Section 33) Invitation of Claims by the Liquidator After verification, the Liquidator can accept or reject the claims.
- 6. Duty of Liquidator – to carry out effective valuation of all claims and assets and liquidate the Corporate Debtor accordingly. Order of priority of debts is also established under the code. (Section 53) (Also known as the Waterfall Mechanism) A Company can also opt for voluntary liquidation. (Section 59) Once the affairs of the Company have been wound up and assets liquidated, the company is dissolved by an order of the Adjudicating Authority.
- 7. Thank you!