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Personal Guarantor Insolvency https://www.fundstiger.com/personal-guarantor-insolvency/ The government on 12 November notified rules for the initiation of insolvency proceedings against personal guarantors to corporate debtors, to be applicable from December 1. Under these rules, if insolvency proceedings against a corporate debtor under the Insolvency and Bankruptcy Code are already in process, the same bench of the bankruptcy court would also deal with the proceedings against the personal guarantor. Experts said the introduction of these rules would likely bring about a faster resolution to insolvency cases of corporate debtors as well. The insolvency of personal guarantor to a corporate debtor being dealt with at the same bench which is hearing the insolvency of the corporate debtor will improve potential recovery for lenders and make the recovery process more holistic and easier procedurally. On November 15, the corporate affairs ministry said provisions related to personal...