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CS Professional · Insolvency and Bankruptcy - Law and Practice · Cross Border Insolvency (Elective 7.5)

Which of the following correctly describes who may apply for, and who issues, a letter of request to a foreign country under section 235 of the Code?

The resolution professional, liquidator or bankruptcy trustee, depending on the stage of the proceedings, applies to the Adjudicating Authority. The Adjudicating Authority, if satisfied that evidence or action on foreign assets is required, issues the letter of request to the competent foreign court or authority.

  1. AResolution professional, liquidator or bankruptcy trustee applies; the Adjudicating Authority issuesCorrect
  2. BOnly the liquidator applies; the Board issues
  3. CAny creditor applies; the committee of creditors issues
  4. DThe resolution professional applies and issues it himself

Explanation

Section 235(1) names the resolution professional, liquidator or bankruptcy trustee as applicant, depending on the stage. Section 235(2) gives the Adjudicating Authority the power to issue the letter of request. Creditors and the Board have no role in this section.

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