ATLANTIC CITY, N.J. — New Jersey’s Supreme Court ruled Wednesday that an Atlantic City casino is not entitled to payouts from business interruption insurance for losses during the COVID-19 outbreak, determining that the presence of the virus did not constitute the kind of “direct physical loss or damage” required for such a payout. The case involved the Ocean Casino Resort’s …
[email protected] The court of justice Anil Kshetarpal has also ordered the department to restrain the institute from disposing of its property before the petitioners get paid. The Punjab and Haryana high court has directed the principal secretary of technical education department to dispose of the property of the Baba Hira Singh Bhattal Institute of Engineering and Technology, an autonomous college, …
The Supreme Court observed that the proceedings under the SARFAESI Act cannot be continued once the CIRP is initiated and the moratorium is ordered.The bench comprising Justices L. Nageswara Rao and B R Gavai noted that, in such a situation, any action to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property …
