India enacted its Insolvency and Bankruptcy Code (IBC) in 2016, bringing revolutionary changes to the country’s corporate restructuring scene with the introduction of a time-bound insolvency resolution process, a dedicated insolvency regulator, a licensed group of insolvency professionals and the creation of the National Company Law Tribunal as the adjudication body. Singapore's omnibus Insolvency, Restructuring and Dissolution Act (IRDA) came into effect on 30 July 2020. Among its key features include a new licensing and regulatory regime for all insolvency practitioners, new provisions on wrongful trading and new restrictions on Ipso Facto clauses. This webinar will begin with a timely look-back at the past four years of IBC’s journey on the ground, followed by an overview of the key features of IRDA. A forward-looking panel will then discuss the challenges brought by Covid legislation in both countries, how IBC and IRDA can support each other in cross-border transactions, what the post-Covid insolvency scene in both countries will look like, and some of the experiences that India can learn from Singapore and vice versa.
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