Tag Archives: Bankruptcy

A DISTRESSED FINANCIAL SECTOR’S CALL FOR HELP AND A FAILING RESPONSE MECHANISM The year was 2002 and the financial sector was crippling. Desperate distress calls for help, answered with the institutionalization of the SICA Act followed by the DRTs had evidently failed. The banks had lost huge amounts of money to willful defaulters and wereContinue reading “CORPORATE INSOLVENCY RESOLUTION PROCESS: INITIATION OF INSOLVENCY BY FINANCIAL/OPERATIONAL CREDITOR”