Tag: legal research

In a case between ‘X’ and ‘Y’, the court saving jurisdiction over insolvency proceedings adjudged ‘Y’ as an insolvent. ‘Z’ another creditor of ‘Y’ filed a suit against ‘Y’ for recovery of the loan amount. is the judgment of the court that ‘Y’ is an adjudged insolvent binding on ‘Z’? Discuss.

Facts of the Case ‘X’ and ‘Y’ were involved in insolvency proceedings before a court of competent jurisdiction. The court adjudged ‘Y’ as an insolvent, […]