Breaking Boundaries Understanding Cross-Border Insolvency
                     Breaking Boundaries: Understanding 
Cross-Border Insolvency
INTRODUCTION TO CROSS-
BORDER INSOLVENCY
• Cross-border insolvency is a situation 
where a debtor's assets or creditors are in 
located multiple jurisdictions. 
• It presents unique challenges due to 
differences in legal systems and creditors' 
priorities. 
• Cross-border insolvency regulations provide 
an effective and efficient mechanism for 
handling such cases, promoting cooperation 
and coordination across different 
jurisdictions.
INCORPORATING CROSS-BORDER 
PROVISIONS IN THE INSOLVENCY 
AND BANKRUPTCY CODE
•  Section 234 of the IBC empowers the 
Central Government to make agreements 
with foreign countries to enforce its 
provisions relating to cross-border 
insolvency.
• Section 235 allows the Adjudicating 
Authority in India to issue a letter of 
request to a foreign court or authority 
seeking assistance in insolvency 
proceedings.
Breaking Boundaries: Understanding Cross-Border Insolvency
COMPANIES INVOLVED IN CROSS-
BORDER INSOLVENCY UNDER THE 
IBC
• Jet Airways 
• Videocon Industries 
• Essar Steel 
Breaking Boundaries: Understanding Cross-Border Insolvency
CHALLENGES IN MANAGING 
CROSS-BORDER INSOLVENCY
• Varying legal frameworks
• Lack of uniformity in recognition of 
foreign proceedings
• Coordination among numerous 
stakeholders
Breaking Boundaries: Understanding Cross-Border Insolvency
OVERCOMING THE CHALLENGES
• Strengthen the institutional framework for cross-border 
insolvency
• Enhance cooperation with foreign jurisdictions
• Promote convergence with international practices 
• Implementing the UNCITRAL Model Law on Cross-
Border Insolvency
• Fostering greater awareness and capacity building 
among insolvency professionals, judges, and 
stakeholders 
• Indulging in training programs, workshops, and 
knowledge-sharing platforms related to law.
Breaking Boundaries: Understanding Cross-Border Insolvency
CONCLUSION
• Cross-border insolvency presents unique 
challenges that require a coordinated and 
cooperative approach among different 
jurisdictions.
• Ancoraa Resolution, a leading firm in 
dispute resolution, offers expertise in 
navigating cross-border insolvency 
matters, ensuring optimal outcomes for 
all parties involved.
Breaking Boundaries: Understanding Cross-Border Insolvency
THANK YOU