02nd June, 2021

02nd June, 2021

02nd June, 2021

The Insolvency and Bankruptcy Board of India, in association with the International Insolvency Institute, are jointly organizing a series of webinars, to sensitize the stakeholders and create awareness about various provisions and the global best practices regarding Avoidance Transactions. The first of such webinars on “Avoidance/ Vulnerable Transactions: Case Management in INDIA/US”, was conducted on 02nd June, 2021, in virtual mode. The keynote address was delivered by Dr. M. S. Sahoo, Chairperson, IBBI. The panellists included Mr. Robert Feinstein (Pachulski Stang Ziehl & Jones LLP); Ms. Maya Zerjal Fink (Arnold & Porter); and Mr. Michael Schaedle (Blank Rome LLP). Mr. Sumant Batra (Kesar Dass B & Associates) moderated the Webinar. Chairperson, IBBI, in his keynote address emphasized the role of the Insolvency Professionals in filing requisite application for avoidance transactions, before the Adjudicating Authority, under the Code. He also cited several judicial pronouncements regarding the same. The panellists discussed the best practices regarding the identification of avoidance transactions in the US ecosystem. They also discussed the challenges faced like the lack of cooperation from management, funds routed through multiple entities, etc. The sessions from the speakers were followed by a Q & A session wherein the panellists deliberated on the role of mediation in avoidance transactions, adherence to the specified time period in such transactions, expertise to deal with avoidance transactions, separation of said transactions from the insolvency proceedings, among many other concerns.