Pass the JIEB exams
The Joint Insolvency Examination Board exams are an essential step if you want to become a licenced insolvency practitioner.
This involves completing three exams that test your skill and knowledge.
These are known for their difficulty, so it helps if you study and revise for these exams..
A career in insolvency is perhaps not everyone's first choice.
However, it is still one of the highest regarded routes for finance professionals and many people actually fall into an insolvency career after studying law….
The insolvency proceedings include administration, liquidation, receivership, and voluntary arrangement.
Insolvency and bankruptcy are two different terms; the former can lead to the latter..
The insolvency proceedings include administration, liquidation, receivership, and voluntary arrangement.
Insolvency and bankruptcy are two different terms; the former can lead to the latter.
An induvial or firm declares bankruptcy in a court of law by filing for it..
The basic idea of Insolvency Code is that when an enterprise (individual, firm or corporation person) defaults in payment of its dues, the control shifts to Committee of Creditors (CoC) of financial creditors.
Actual work is handled by IP..
There are two main types of insolvency: cash flow insolvency and accounting insolvency.
Cash flow insolvency occurs when a company can't pay its debts, but its liabilities aren't necessarily greater than its assets.
Accounting insolvency occurs when a company's liabilities are greater than its total assets..
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1) A financial creditor, either by itself or jointly, shall make an application for initiating the corporate insolvency resolution process against a corporate debtor under section 7 of the Code in Form 1, accompanied with documents and records required therein and as specified in the Insolvency and Bankruptcy Board of .
“Time-limit for completion of insolvency resolution process:
As per Section 12(1), the CIRP shall be completed within a period of 180 days from the date of admission of the application to initiate such process..
Insolvency is a perfect mix between accounting and law which keeps the role interesting.
At one point you can be conducting the investigations into a Director's conduct relating to antecedent transactions or wrongful trading..
For proper enforcement and management of the resolution process the code sets up the Insolvency Professionals that handles affair of the corporate debtors and also collects important information and provide them to the creditors to help them in decision making..
In a recent article, entitled ‘ The Future of Insolvency Law in a Post-Pandemic World ’, I analyse various trends, reforms and policy discussions probably reshaping the future of insolvency law
First, prior to the COVID-19 outbreak, various jurisdictions, such as :,the United States and Myanmar, adopted special insolvency rules for MSMEs
Generally speaking, insolvency refers to situations where a debtor cannot pay the debts they owe
For instance, a troubled company may become insolvent when it is unable to repay its creditors money owed on time, often leading to a bankruptcy filing
Nonetheless, the legal definition of insolvency is complicated and situational
Baker McKenzie’s Global Restructuring & Insolvency Blog explores recent developments in the law of restructuring and insolvency throughout the world
It also features our updated, comprehensive Global Guide to Restructuring and Insolvency
Baker & McKenzie attorneys from around the world contribute to the Blog
A debtor is insolvent when the debtor’s liabilities exceed the debtor’s assets, excluding the value of preferences, fraudulent conveyances, and exemptions; in this situation, a debtor has negative net assets
As the Fifth Circuit accurately stated in Langham, Langston & Burnett v
Trade law body of the UN
Trade law body of the UN
