bankruptcy law


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Crypto lender Genesis denies immediate plans to file for bankruptcy

"We have no plans to file bankruptcy imminently. Our goal is to resolve the current situation consensually without the need for any bankruptcy filing," a Genesis spokesperson said

The Genesis website on a laptop computer.(Bloomberg)
Published on Nov 22, 2022 10:47 AM IST
Reuters | | Posted by Singh Rahul Sunilkumar

Bankruptcy courts await a flood of default filings

In order to provide relief to Covid-19 pandemic-hit companies, the government temporarily suspended the initiation of corporate insolvency resolution processes from March 25, 2020, initially for six months. It was successively extended twice by three months each.

The government is expecting a flurry of default cases in the National Company Law Tribunal (NCLT) now and preparing a framework so that the lender and the borrower could settle the matter outside the tribunal, the people quoted above said.(File photo)
Published on Mar 25, 2021 05:57 AM IST
ByRajeev Jayaswal, New Delhi
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