Live Breaking News & Updates on Judicial Insolvency Network|Page 3

Tweaking IBC for cross-border cases
×
The Insolvency and Bankruptcy Code 2016 has been beefed up to suit current needs but issues still remain
Overhauling the insolvency and bankruptcy regime, India enacted the Insolvency and Bankruptcy Code 2016 in May 2016. The Code emulates UK’s insolvency laws and is customised for India. While it has been trimmed and strengthened since inception to suit the current needs, a few issues still remain to be addressed. One of them is cross-border insolvency and debt resolution.
Cross-border insolvency
Currently, two provisions of the code (Section 234 and 235) deal with cross-border insolvency. They envisage entering into bilateral agreements and issuance of letters of request to foreign courts by adjudicating authorities for enforcing the provisions of the IBC with regard to assets of a corporate debtor located abroad. ....

United Kingdom , Apex Court , Insolvency Law Committee , Videocon Industries , National Company Law Appellate Tribunal , Supreme Court , Airways India Private , Ministry Of Corporate Affairs , Judicial Insolvency Network , Videocon Group , Macquarie Bank Vs Shilpi Cable , Bankruptcy Code , Corporate Affairs , Cross Border Insolvency , Model Law , Jet Airways India Private Limited , Indian Resolution Professional , Foreign Administrator , Restructuring Plan , ஒன்றுபட்டது கிஂக்டம் , உச்சம் நீதிமன்றம் , நொடித்துப்போனது சட்டம் குழு , வீடியோ கான் தொழில்கள் , தேசிய நிறுவனம் சட்டம் மேல்முறையீடு தீர்ப்பாயம் , உச்ச நீதிமன்றம் , வானெறிக்குழுப்பெயர் இந்தியா ப்ரைவேட் ,