Legal Era Virtual
Insolvency Summit 2020

Virtual Insolvency Summit 2020 Leading Experts Meeting for understanding new developments in the Legal Industry

Day Conference

Global Speakers



That 2020 would wreak such havoc, no one must have imagined.

As the world continues to reel under the COVID 19 pandemic, several businesses have shut shop even as several others struggle to survive, let alone make profit. Faced with an economic crisis of unprecedented proportions, governments across the globe are struggling to mitigate the financial stress and prevent insolvency.

The Government of India in March raised the minimum default threshold for accepting cases under the Insolvency and Bankruptcy Code, 2016 (IBC) from INR 1 LAKH to INR 1 CRORE. Later in May, sections 7, 9 and 10 of the IBC which relate to initiation of insolvency proceedings by financial creditors, operational creditors and debtors (voluntary insolvency), respectively, were suspended. Not only were insolvency proceedings suspended for a year, the Government also announced that a special insolvency resolution framework for MSMEs would be notified under section 240A of the IBC. Additionally, that COVID-related debt would be excluded from the definition of default under the IBC for the purpose of initiating insolvency proceedings.

While the measures were intended to provide relief, the response has been a mixed bag. It is argued that suspension of the IBC will put many problems on the backburner instead of solving them, not to mention prove counterproductive as companies which could have restructured under the IBC will now be pushed into liquidation. Meanwhile, companies not immediately facing liquidation will face deterioration in value. There is need instead for a framework that ensures time-bound resolution among all classes of creditors and for the development and strengthening of other channels for resolution of non-performing assets (NPAs). Suspending the IBC seems like a knee-jerk reaction to the COVID crisis and there is concern over gross misuse by wilful defaulters and fraudulent promoters. Besides, the move may not benefit all; smaller businesses unable to cope with the magnitude of the crisis may be better off shutting down, not so the larger businesses. In this context, it would be better for the Government to assess deeper structural changes to its insolvency framework.

Addressing these and similar such issues is Legal Era Magazine’s Virtual 5th Annual Insolvency Summit 2020 on 21st October 2020 where legal & Insolvency Experts will dissect, discuss and attempt to resolve the problems facing the insolvency resolution framework in these times. Carefully curated sessions will help all concerned stakeholders best negotiate the financial minefield and avoid the pitfall that is insolvency.


Justice A. K. Sikri

Justice A. K. Sikri

Former Judge

Supreme Court of India

Padma Shri Dr. T.K . Viswanathan

Padma Shri Dr. T.K . Viswanathan


Bankruptcy Law Reforms Committee

Justice S. J. Mukhopadhaya

Justice S. J. Mukhopadhaya

Former Judge Supreme Court of India

Chairperson, National Company Law Appellate Tribunal

Amarjit Singh Chandhiok

Amarjit Singh Chandhiok




Peter Bowden




Siva S. Raman


National e-Governance Services Limited (NeSL)

Naomi Moore

Naomi Moore



R. K. Bansal

R. K. Bansal

Managing Director & CEO

Edelweiss Asset Reconstruction Company Limited

Event Schedule

Navigating Distressed Investing in the Pandemic Era

Covid-19 relief legislation to help companies in distress

  • What relief measures have been introduced via legislation or other “soft” law
  • Effectiveness of these measures in the short term and long term
  • How these legislated relief measures augment, clash or work in parallel with existing insolvency legislation

Rescue financing

  • Cash is oxygen to companies in distress
  • How financing can be raised for such companies (given the assets are usually mortgaged to the hilt or its publicly known that these companies are struggling and are hence a high credit risk)

Resolution Tool set - What are the alternatives available for the resolution of corporate stress?

  • IBC was the only resolution mechanism that was in play. What is the impact of suspension of CIRP on the resolution of stress?
  • What are the pre-insolvency alternatives available for the resolution of stress?
  • Challenges faced in the resolution of stress via pre-insolvency mechanisms.
  • How can we make these mechanisms more effective in practice?

Cross-Border Restructuring

  • Whether local creditors are given favourable treatment, is there ring fencing of assets?
  • Adoption of the UNCITRAL Model Law on Cross Border Insolvency or local legislation providing for recognition or assistance of foreign insolvency proceedings
  • Opening parallel proceedings in other jurisdictions

Safeguarding Creditor’s Debt Enforcement Rights to Ensure Asset Recovery Efforts


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