安永&CM：2024混合破产解决程序研究报告（中译版）（56页）.pdf

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1、An Indian Ins?tute of Excellence in InsolvencyHYBRIDINSOLVENCYRESOLUTIONPROCESSA CREDITOR LED,DEBTORIN POSSESSION RESOLUTIONPROCESS FOR INDIAJuly,2024Corporate distress and firm closure are unavoidable.To a certain extent,it is a desired outcome of strong market economies,a process of self-cleansing

2、 and market efficiency that promotes the survival of the most competitive firms.Market forces nudge nonviable firms that remain in business(so-called zombies)to leave the market to make resources available for other firms.Their continued existence can lead to credit misallocation and a drop in econo

3、mic productivity.Consensus-driven solutions can provide better outcomes for all stakeholders of such enterprises.It can particularly benefit enterprises facing distress due to systematic issues,such as economic downturn,change in regulations,recession,commodity cycle,etc.The government and Insolvenc

4、y and Bankruptcy Board of India have demonstrated unprecedented resolve to make the countrys insolvency framework fully robust as expected of an economy seeking to become the third-largest economy in the world by 2027,with a GDP of$5 trillion.The government has,however,set a higher goal of becoming

5、a developed country by 2047.To become a developed nation,reforms are required in various areas which have long been hamstringing India.Futuristic and visionary policies will have to be formulated at multiple levels.To support these goals,India needs a robust insolvency system that ranks amongst the

6、best in the world.Hybrid procedures are amongst most popular choices for resolution of distress.It is imperative that Indias insolvency framework includes a robust hybrid procedure within IBC framework.This research paper proposes a hybrid model customised for the Indian eco-system.The model propose