In a recent article published by Financial Express, our partner Vatsal Gaur, highlighted the critical need for legislative support in streamlining out-of-court insolvency resolutions. With a focus on enhancing India's participation in international insolvency networks, Vatsal emphasized the potential benefits of aligning domestic practices with global standards.
Furthermore, Vatsal advocates for India's increased engagement with international insolvency networks such as the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-Border Insolvency (MLCBI). Aligning domestic practices with internationally recognized standards not only enhances India's credibility on the global stage but also facilitates smoother cross-border insolvency proceedings.
Read full article: https://www-financialexpress-com.cdn.ampproject.org/c/s/www.financialexpress.com/business/industry-out-of-court-insolvency-resolution-to-get-a-leg-up-3461568/lite/
