The Insolvency & Bankruptcy Code, 2016 (IBC), inter alia, provides for Voluntary Liquidation Process wherein a corporate person, who has not committed any default, decides to liquidate itself voluntarily, with the consent of its shareholders, partners, as the case may be, and also creditors, if applicable. As of 30 September 2021, a total of 1042 voluntary liquidation cases were initiated, out of which dissolution orders have been passed in respect of 257 cases. The voluntary liquidation of corporate persons is now primarily governed by the Code on account of it being a time and cost-efficient and systematic process. By way of this webinar, the conduct of the voluntary liquidation process in India and the United Kingdom shall be brought to the attention of the Insolvency Professionals. Emphasis will be laid on the challenges faced by liquidators while discharging their duties and the role of the various stakeholders such as the Board of Directors, creditors and judiciary.
The speakers, on the basis of their experience, will also provide a UK perspective and the evolved best practices which can be referred to by the Insolvency Professionals in India. The webinar will also include a panel discussion wherein aspects such as the requirement of approvals from statutory/regulatory authorities for NOCs, overlapping powers of the Board of Directors, among others, shall be discussed and deliberated.
Speakers
Mr. Spandan Biswal, Partner, CAM
Mr. Biswal has over 13 years of experience in the Project Finance practice and Insolvency & Bankruptcy practice. His practice area includes mergers and acquisitions, insolvency-related matters as well as debt restructuring.
Mr. Patrick Brazil (Insolvency Practitioner, UK)
Mr. Brazil is a Licensed Insolvency Practitioner with over 35 years of Corporate Restructuring experience. He was previously associated with Insolvency Service. Patrick is a Past President of the Insolvency Practitioners Association (IPA). He is the previous Chair of the IPA's Practice Guidance, Ethics and Standards Committee and has previously been a member of R3’s General Technical Committee and the Joint Insolvency Committee. He is currently a member of the IPA's Disciplinary and Appeals Committee.
Ms. Saskia Lawrence (Insolvency Practitioner, UK)
Ms. Lawrence has experience in both personal and corporate insolvencies and is a qualified insolvency practitioner. Her area of expertise is in formal corporate recovery procedures, including administrations, company voluntary arrangements and both insolvent and solvent liquidations. Ms. Saskia is also a member of the Insolvency Practitioners Association and the Association of Business Recovery Professionals as well as Women in Banking and Finance.
Mr. Richard Barker (Insolvency Practitioner, UK)
Mr. Barker has over 20 years’ experience advising corporate stakeholders to design and implement legal entity optimization programs. He is also a licensed insolvency practitioner who leads complex financial services insolvencies, working with stakeholders to help deliver better outcomes.
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