Personal guarantee muddle: no insolvency process can manufacture asset value that doesn't exist

Mint has reported a new India-focused foreign affairs development: “Personal guarantee muddle: no insolvency process can manufacture asset value that doesn't exist.” The publisher's feed describes the story as follows: The Subhash Chandra personal-guarantee case under India’s Insolvency and Bankruptcy Code (IBC) reminds us of the need to make fine distinctions that too many observers miss. For instance, an insolvency process cannot distribute what a guarantor’s estate does not contain. Intelle
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