When enacted the cross-border insolvency law based on UNCITRAL Model Law on Cross Border Insolvency will give India another jump in the global insolvency rankings. Cross border insolvency raises many complex issues, as is evident from its implementation experience over last few decades in many countries. Many Indian companies have grown multinationals in character and have made high stake acquisitions abroad. A number of foreign companies have subsidiaries or branches in India. Similarly, Indian companies have set up businesses entitles overseas. Foreign banks and creditors have financed Indian assets and Indians banks have exposures overseas. they might get involved in cross border insolvencies, directly or indirectly. Insolvency professionals, bankers and other players will be called upon to deal with the nuances of this sophisticated part of insolvency. It is imperative that the Indian market and stakeholders are ready and fully prepared to effectively deal with the complex, sophisticated and novel issues arising from cross border insolvency.

The Insolvency Law Academy proposes to help the industry address the gap between the enactment of Model Law and its implementation by educating stakeholders, creating awareness and building stakeholders’ capacity.