In Conversation with Vikram Nankani: Enforcing Liability in a Post-COVID World

Updated: Jun 13, 2020



The Law Point In Conversation with Vikram Nankani (Senior Advocate) on "Enforcing Liability in a Post-COVID World: A Practical Perspective", will be moderated by Amir Arsiwala (Of Counsel, The Law Point). Omprakash Jha (Associate Partner), Ayush Agarwal and Ravishekhar (Advocates, The Law Point) will also be joining the session to provide their valuable inputs. Date: 13 June 2020 Time: 12.30 - 13.45 PM

AGENDA

1. Insolvency and Bankruptcy Code (Amendment) Ordinance 2020

  1. Scope and ambiguity

  2. Permanent protection given to defaults occurring during “suspension” period

  3. International approach

  4. Dearth of Resolution Applicants: Not a new phenomenon – Need to review Section 29A?

  5. For operational creditors: Applicability to defaults which have occurred prior to 24th March 2020

  6. Dichotomy between suspension for Corporate Debtors but not for Personal Guarantors?

2. Whether schemes of arrangement or compromise can fill the gap?

  1. What is a scheme under section 230-232 of the Companies Act, 2013?

  2. Practical difficulties to restructuring through a scheme?

  3. Doctrine of “commercial morality” and how it restricts a scheme?

3. Section 271 of the Companies Act, 2013, and insolvent firms?

  1. Can promoters resort to winding up of a company under the Companies Act, 2013?

  2. How will creditors be affected?

4. Recovery through DRT & SARFESI

  1. Practical difficulties

  2. Efficacy

5. Arbitration as a method of recovery?

  1. MD Frozen Foods judgment of Supreme Court

  2. How to take advantage of the arbitration as a dispute resolution mechanism?

  3. Importance of mediation


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