IBC resolution: Plan to reduce committee of creditors’ remit junked

The government had in October 2019 announced its intention to bring in the distribution formula, stung by an NCLAT order that had trimmed financial creditors’ share of the recovery in the Essar Steel case from 90% to 60%, and raised the pie of operational creditors.

from The Financial ExpressThe Financial Express https://ift.tt/2PBnj3G