2nd July, 2021

2nd July, 2021

2nd July, 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 third of such webinars on “Avoidance/ Vulnerable Transactions: Case Management in INDIA/Singapore”, was conducted on 02nd July, 2021, in virtual mode. The keynote address was delivered by Dr. Ms. Mukulita Vijayawargiya, Whole Time Member, IBBI. The panellists included Mr. Ashok Kumar (Black Oak LLC, Singapore); and Ms. Jo Tay (Allen And Gledhill LLP, Singapore). The Whole Time Member, IBBI, in her keynote address emphasized the importance of filing applications for avoidance transactions, before the Adjudicating Authority, under the Code. She also discussed the importance of examining such applications and their visible impact. Further, she posed several challenges concerning avoidance transactions. The panellists discussed the best practices regarding the identification of avoidance transactions in Singapore. They also discussed the principle of pari passu, restructuring processes, etc. The event included Q & A session wherein several issues were addressed including the viability of the out of court settlement, avoidance transactions vis-à-vis group insolvency, among many other questions.