Regional news: India

Four months after the firm’s founder passed away, Luthra and Luthra Law Offices in India has recruited a partner to its Mumbai insolvency and bankruptcy team from Bharucha & Partners.

04 September 2023

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One of the draftsmen behind India’s Insolvency and Bankruptcy Code and a senior partner at his firm discuss how delays are weighing down India’s seven-year-old bankruptcy system and whether the country might adopt the UNCITRAL Model Law on Cross Border Insolvency this year.

28 June 2023

The chair of Indian IT group Rolta has been ordered to personally pay creditors almost US$188 million following a bond default in 2018, after a New York court found he directed the group to file bankruptcies in bad faith.

25 May 2023

A Toronto-listed roller coaster manufacturer that builds rides for Disney and Universal Studios resorts in the US, Japan and China has sought Chapter 15 relief in Texas while it negotiates a sale to its debtor-in-possession lender.

18 May 2023

Is the current class of unscrupulous businessmen and women worried more about likes than the law? At INSOL International’s first in-person event in India since the start of the covid pandemic, practitioners discussed cross-border asset tracing in India and whether discretion is a dying art among fraudsters.

27 March 2023

Lawyers in India and further afield tell GRR the country’s decision to open its legal market to foreign law firms and practitioners will present opportunities in the restructuring space and will prove to be a “boon” for India’s insolvency industry.

20 March 2023

The think tank founded by former INSOL International president Sumant Batra has named two Indian judges as emeritus fellows, and dedicated a new mediation centre to another late luminary in the insolvency space.

08 February 2023

India’s economic growth and the refinement of the country’s Insolvency and Bankruptcy Code are not mutually exclusive, a crowd of leading Indian and international practitioners and scholars heard this week at the inaugural conference of the Insolvency Law Academy – a not-for-profit organisation set up by former INSOL International president Sumant Batra.

07 February 2023

While acknowledging the limited regulatory guidance currently in place, managing partner Kyle Broadhurst and Richard Parrish from Cayman boutique Broadhurst provide a brief overview on how at least seven different jurisdictions are approaching the treatment of crypto assets in insolvency.

06 February 2023

The Indian government is inviting comments on a suite of proposed reforms to the country’s Insolvency and Bankruptcy Code, from a new electronic case management platform to special rules for real estate developers.

26 January 2023