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[IBC] Is Moratorium Applicable to Suits Filed By Corporate Debtor?: SC Issues Notice [Read Order]

first_imgNews Updates[IBC] Is Moratorium Applicable to Suits Filed By Corporate Debtor?: SC Issues Notice [Read Order] LIVELAW NEWS NETWORK17 Oct 2020 2:08 AMShare This – xIs the provision of moratorium in Section 14(1)A of Insolvency and Bankruptcy Code, 2016 only applicable to civil suits filed against the corporate debtor?, the Supreme Court has issued a notice in an SLP which raises this issue.The Special Leave Petition is filed against a Bombay High Court order contending that the High Court erred in its interpretation of Section 14(1)A of Insolvency…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginIs the provision of moratorium in Section 14(1)A of Insolvency and Bankruptcy Code, 2016 only applicable to civil suits filed against the corporate debtor?, the Supreme Court has issued a notice in an SLP which raises this issue.The Special Leave Petition is filed against a Bombay High Court order contending that the High Court erred in its interpretation of Section 14(1)A of Insolvency and Bankruptcy Code, 2016. The bench comprising Justices L. Nageswara Rao, Hemant Gupta and Ajay Rastogi issued notice in this SLP on Thursday.Section 14(1)A empowers the Adjudicating Authority to declare moratorium for prohibiting the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority.The Delhi High Court has held that moratorium under Section 14 of the Insolvency and Bankruptcy Code will not bar trial of suit by the corporate debtor and a counter-claim in such suit if issues and facts in both are intertwined.  Similarly, a division bench of Madras High Court has also held that the moratorium order passed under Section 14 of the Insolvency and Bankruptcy code would prohibit all the proceedings including the proceedings initiated by the corporate debtor.Case: MALAYAN BANKING BERHAD vs. USHDEV INTERNATIONAL LTD. & ORS. [Diary No(s).5960/2020]Coram: Justices L. Nageswara Rao, Hemant Gupta and Ajay RastogiClick here to Read/Download OrderRead Order Next Storylast_img read more

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Bob Dylan’s Former Harlem Townhouse Hits The Market For A Cool $3.7 Million

first_imgThough Bob Dylan is perhaps most closely associated with Greenwich Village in New York, NY, the freewheelin’ Nobel Laureate spent a great deal of time at his very own townhouse in Harlem as well. He ultimately sold the four-story property in 2000, cashing it in for $560,000 at the time. Seventeen years later, the owners placed the townhouse back on the market, with an asking price of $3,689,000.Situated at 265 W 139th St., the reason for the price increase is likely due to the overall gentrification of Harlem, as well as many renovations made within the interior of the townhouse. Nevertheless, the building once bore witness to the creative genius that is Bob Dylan, and for that reason alone it’s attracting a certain level of panache.You can check out the listing on 6sqft if you want to know more about Dylan’s former home, complete with the title “139th Street revisited” to punny effect. The outside of the townhouse is pictured below.[Photo and story via Gothamist]last_img read more

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