20 November 2020
ABLI held webinar A Look at India's Insolvency and Bankruptcy Code and Singapore's Insolvency, Restructuring and Dissolution Act
On 18 November 2020, ABLI held its third webinar of the year. Titled A Look at India's Insolvency and Bankruptcy Code and Singapore's Insolvency, Restructuring and Dissolution Act, the webinar featured Mr Sumant Batra, Managing Partner of Kesar Dass B. & Associates and Mr Pulkit Gupta, Partner of EY, Restructuring and Turnaround Services, both from India, and Mr Sim Kwan Kiat, Head of Restructuring & Insolvency, Rajah & Tann Singapore LLP, joining from Singapore.
The webinar started with Pulkit giving an overview of the four-year life of India's Code, sharing interesting statistics such as the number of cases filed, the number of cases resolved and still ongoing, the average length taken for the filings, etc. Kwan Kiat followed up with selected topics of Singapore's new insolvency regime, focusing on areas such as pre-packs, restrictions on ipso facto clauses, cross-border insolvency, etc.
The panel discussion that followed touched on issues such as the need to balance debtor-in-possession and creditor-in-control in both micro and marco contexts, the viability of pre-packs, the trend of insolvency cases post-Covid, etc. All speakers also responded to questions from the floor, such as whether DIP financing is available under India's Code, how is filing under the Code being used to exert pressure on debtors, the use of pre-packs in labour-intensive industries, etc.
ABLI thanks all speakers and attendees for their time, and is delighted to have received interest from outside Singapore, including from places such as Australia, India and the UK.
ABLI looks forward to welcoming more attendees to our next webinar scheduled on 2 December to discuss aviation restructuring.
A recording of the webinar is available and please contact the secretariat if you would like to view the recording.