Next came the most-awaited, first-panel session of the day. The focus was on 'Cross border insolvency.' Moderated by Nirav Shah, Partner, DSK Legal, the panellists were Peter Bowden, Partner, Gilbert + Tobin, Rishi Hindocha, Counsel, Allen & Overy LLP, Joanne Collett, Partner, Walkers, and R S Sachdeva, President(Group - Legal), JK Organization. They shared thoughts and learnings on hot topics of today.
IBC has been a game changer for the lender community in India. It has changed the behaviour of defaulting companies and promoters. There is one area which still needs to be plugged to ensure the lenders are able to recovery their dues to the full permissible extent. And that is incorporation of cross border insolvency provisions in the IBC. This will help all lenders get access to assets / money parked overseas by companies and its promoters said Nirav Shah, Partner, DSK Legal