Pre-Pack Insolvency Resolution as a Mechanism of Corporate Rescue
The importance of corporate rescue is a vital facet of insolvency laws of any country. Corporate rescue is essential for financially stressed entities seeking to preserve value, restructure its liabilities and strive for business viability prior to initiation of formal insolvency proceedings. Pre-Pack insolvency resolution, as a mode of corporate rescue has acquired significance in some jurisdictions. The distinguishing feature of a Pre-Pack insolvency resolution is that, it is a speedy procedure which addresses the stress of the entity and provides for a restructuring plan in a cost effective manner without resorting to the initiation of insolvency proceedings.
With a view to further improve the effectiveness of the Insolvency and Bankruptcy Code, 2016, Pre-Pack insolvency resolution may be thought of as an additionalsolution with necessary checks and balances.
The panellists will explain the mechanism of Pre-Packs by placing reliance on the UK model of Pre-Pack administration. The discussions will revolve around Pre-Pack tool that can be utilised to alleviate financial stress of a corporate entity and the protections available for existing creditors
in such a scenario. The strengths and concerns of a Pre-Pack administration will also be discussed.
Speakers
- Mr. Ben Larkin (Partner, Jones Day): Mr. Larkin has led significant cross-border restructurings in the telecom, pharmaceutical, and energy sectors. He acts for a wide variety of funds, investment banks, and corporations. Mr. Larkin is regarded as an expert in infrastructure-related restructurings, with broader experience handling domestic and
cross-border restructuring and insolvency mandates. - Ms. Kay. V. Morley (Partner, Jones Day): Ms. Morley advises stakeholders on all aspects of insolvency and corporate restructuring with a particular focus on European special situations and complex cross-border restructurings. She advises hedge funds and other distressed investors on the acquisition of loan portfolios and the implementation of “loan to own” strategies. Ms. Morley also advises debtors in distress and private equity portfolio companies along with insolvency practitioners on domestic and offshore situations.
- Mr. Dhanraj Misra: (Foreign Qualified Lawyer, Jones Day): Mr. Misra has worked as a litigation strategist for UAE and Indian entities and has experience in cross-border, multijurisdictional financial disputes involving insolvency and bankruptcy, fraud, asset recovery and investigations, and money laundering and corruption.
- Mr. Pulkit Gupta: (Partner, EY): Mr. Gupta is a Partner with the Restructuring Team in EY, India. A Chartered Accountant from the ICAI, he has experience in operations improvement, financial viability study, strategy development, business process reengineering and financial due diligence.
Link for accessing Webinar
https://eyenterprise.webex.com/eyenterprise/onstage/g.phpMTID=ec434bf312cd5a7611673fae79ec2e65e
For any further information/clarification, please write to: [email protected]
