Distribution of proceeds of Resolution Plan - Secured creditors ...

Insolvency and Bankruptcy

September 17, 2022

Distribution of proceeds of Resolution Plan - Secured creditors - The conclusion of the committee is that the priority under Section 53(1)(b)(ii) shall be only to the extent of security interest of the secured creditor. The secured creditor cannot claim priority under Section 53(1)(b)(ii) of the whole debt where only part of the debt is secured, the above report of the Committee in no manner helps the appellant to support the submission. - AT

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Distribution of proceeds of Resolution Plan - Secured creditors ...

Insolvency and Bankruptcy

September 17, 2022

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