Importance of Negotiation Skills for Insolvency Professionals
Webinar On
“Importance of Negotiation Skills for Insolvency Professionals”
Thursday, 26th November, 2020
3:00 PM – 5:00 PM
The Insolvency and Bankruptcy Code, 2016 (“Code”) bestows upon an Insolvency Professional several responsibilities and functions which require constant interaction with various stakeholders and participants in a Corporate Insolvency Resolution Process / Liquidation Process. The Bankruptcy Law Reforms Committee (“BLRC”) while relying upon various
principles to design a new insolvency and bankruptcy resolution framework in India, has in its report observed the following in the context of a resolution professional:
“The professional will manage the resolution process of negotiation to ensure balance of power between the creditors and debtor and protect the rights of all creditors” and it further noted that The RP becomes the manager of the negotiation between the debtor and the creditors in assessing the viability of the entity. In this role, she has the responsibility of managing all information so that debtors and creditors are equally informed about the business in the negotiations”.
Hence, it is vital on the part of the Insolvency Professional to harness the skills of negotiation in order to better handle the interests of all the stakeholders including but not limited to the members of Committee of Creditors, the Corporate Debtor and also the Prospective Resolution Applicant.
By way of this webinar, the participants will be introduced to the principles, efficacy and applicability of negotiation and the panelists shall endeavor to shed light on some of the techniques of business negotiation and its importance vis-à-vis the Code.
