Latham & Watkins LLP (JD Supra India)
India Implements Radical Reforms to Insolvency and Rehabilitation System
With a new Insolvency and Bankruptcy Code that has become effective on 1 December 2016, India seeks to expedite the process for creditors seeking payment or foreclosure through the courts. India is currently a tough place to be a creditor, especially an unsecured creditor. Multiple statutes and forums govern the current insolvency regime for corporations in India. A creditor...