Process advising is provided in the matters of corporate insolvency resolution professional, liquidation, Insolvency, and bankruptcy of individuals and partnership firms.
The Insolvency and Bankruptcy Code, 2016 (IBC) is the comprehensive law that consolidates the existing law and gives it a shape to resolve the economy through the resolution of the units i.e. Corporate debtors, units under IBC, 2016, under financial stress. It also covers the resolution of personal insolvency and bankruptcy issues. It proposes a time-bound resolution process under strict supervision and guidance of adjudicating authority. The strict deadline, detailed process along with prescribed rules and forms makes this law detailed yet very effective.
A process advisor plays an extremely important role in finding a balance between stakeholders and the Committee of creditors. Amongst many things, the Process advisor negotiates on behalf of lenders for the best possible recovery, provides assistance to lenders in taking an informed decision. Process advisor plays an integral role to value maximization in the resolution process and acts as an interface between CoC, resolution professional, and investors.
From understanding the commercial market, updating the laws, and identifying value for the investors for maximum resolution of the units, along with efficient coordination with professionals and stakeholders. It is important for the Process advisor to identify market opportunity extensively through collateral including Teasers, Information dockets, etc. and running a fair, transparent, and clear process with all participants to avoid litigation
Role of Process Advisors in Resolution Plan under IBC, 2016
- Advising the resolution process to carry out CIRP as per law by sharing their experience.
- Keep up-to-date with amendments and latest developments
- Advise on the detailed and appropriate process to be followed
- Assisting the resolution professional in engaging various professionals at reasonable costs for the smooth conduct of CIRP.
- Advice on the Insolvency and Bankruptcy Code, 2016 including the restructuring and insolvency process contemplated therein.
- The advice in structuring and the legal and regulatory options and potential benefits of resolution
- Advice and assistance in drafting, negotiating, and finalizing relevant transaction documents, including applications, petitions, and resolutions.
- Advice and assistance to directors and key managerial personnel on their liabilities and obligations arising out of a restructuring and formal and informal insolvency processes.
- Advice and assistance in formulating and structuring strategies for litigation and dispute resolution.
- Advice and assistance in strategizing, drafting, negotiating, and finalizing documents for litigations and dispute resolutions, including applications, petitions, settlements, and compromises
How ASC Helps?
- Experienced team of Insolvency Professionals having handled CIRP/ Liquidation in all segments/ industries/sectors/ claim size up to 9500 crores
- CA, CS, Lawyers, bankers, and IP professionals ( team of professionals) to guide at each step
- Restructuring, documentation, drafting, negotiating and finalizing relevant transaction documents
- Representing clients in CoC, Courts, meetings, and other negotiation forums