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Jessica Brown

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Jessica Brown

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I got pulled into restructuring practice at the age of 28, thanks to ICICI Bank Limited, then ICICI. My exposure to insolvency systems outside of India began in 1997, when the Late Shri Arun Jaitley, the then Minister of Law and Justice of the Government of India, invited me to join INSOL India as its founding secretary. One thing led to another, and soon, I was selected by INSOL International to serve as a nominee director on its Board. I had the distinction of serving on the INSOL International Board for 10 years, including as its Vice President and President (as the youngest and the first Asian to head the organisation).
  • INDEPENDENT IMPACT ASSESSMENT
  • MSME AND INDIVIDUAL INSOLVENCY
  • PRE-INSOLVENCY AND PREVENTIVE INSOLVENCY PROCESSES
  • INSOLVENCY OF FINANCIAL SERVICES PROVIDERS
  • DEVELOPMENT OF STRESSED ASSETS ACQUISITION MARKET
  • IMPLEMENTATION OF CROSS BORDER INSOLVENCY LAW
  • MEDIATION IN INSOLVENCY
  • DEVELOP A COMMUNITY IN PURSUIT OF EDUCATION, RESEARCH AND SCHOLARSHIP
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Roundtable on Mediation in Insolvency

Draft Schedule

ILA – IIULER
ROUNDTABLE ON MEDIATION IN INSOLVENCY

Monday, 12th February 2024, IIULER Campus, Goa

In association with INSOL India

 

The enactment of the Insolvency and Bankruptcy Code, 2016 (“Code”) was a watershed moment in India for recovery of business enterprises in distress. Over the past more than seven years, law and practice of insolvency has matured to focus on entire value chains in addressing enterprise sickness and on the resolution of disputes through creditor in control and collective deliberation process. However, despite the significant improvements brought by the Code, the insolvency resolution process is still considered to be time-consuming and resource intensive.
A sound insolvency system is non-adversarial in design and process. Yet disputes may arise between parties in the process. Experience shows that multifarious disputes arise between the parties in processes under the Code. These disputes clog the boards of NCLT. To reduce the burden of NCLT, it is necessary to enable and promote alternative options to resolve disputes.

Mediation has emerged as an effective tool of dispute resolution in many jurisdictions and attained the status of ‘Appropriate Dispute Resolution’ mechanism. It offers strong incentives for parties to engage and look for a common business solution. Mediation can arguably serve a greater purpose since resources are limited and the need to save time and preserve business relationships is arguably higher. It being non-adversarial in approach can help in maintaining cordiality in business relationships and save honest entrepreneurs from the stigma of insolvency. Although it has not been used extensively in insolvency proceedings in India, its acceptability had rapidly increased in jurisdictions around the world. With the passing of Mediation Act 2023, the use of mediation is expected to gain momentum in India.

Recognising the value and merit of mediation, ILA and IIULER, in association with INSOL India, are holding a roundtable of select stakeholders and experts to deliberate on the application and use of mediation in insolvency, and the issues arising therefrom. The roundtable will be attended by policy makers, judges, representatives of insolvency institutions from India and abroad, mediation experts, lawyers, and academics. Attendance of roundtable will be by invitation only.

ILA - IIULER1-table
Glimpses of Roundtable
Synthesis Note