Cross-Border Insolvency under Insolvency and Bankruptcy Code
                     Cross-Border Insolvency under 
Insolvency and Bankruptcy Code
INTRODUCTION
Cross-Border Insolvency
Cross-border insolvency occurs when an insolvent debtor 
has assets or creditors in multiple countries. It raises 
complexities in handling the debtor's estate across different 
jurisdictions. The absence of a standardized legal 
framework for dealing with such cases can lead to 
prolonged proceedings and inconsistencies.
RELEVANCE UNDER INSOLVENCY 
AND BANKRUPTCY CODE (IBC)
Insolvency and Bankruptcy Code (IBC)
The IBC, 2016, governs insolvency and bankruptcy cases 
in India. However, the code lacks comprehensive 
provisions for cross-border insolvency, leaving gaps in 
addressing international claims. Currently, Section 234 and 
235 of IBC allows agreements with foreign countries, yet 
India's full adoption of the UNCITRAL Model Law on 
Cross-Border Insolvency is pending.
Cross-Border Insolvency under Insolvency and Bankruptcy Code
NEED FOR A ROBUST FRAMEWORK
A structured cross-border insolvency mechanism is 
essential for businesses and creditors operating globally. 
Adopting the UNCITRAL Model Law can help India align 
with international standards, ensuring efficient case 
handling and equitable treatment of creditors across 
borders.
Cross-Border Insolvency under Insolvency and Bankruptcy Code
CONCLUSION
Future Outlook
India’s recognition and adaptation of cross-border 
insolvency laws will further strengthen the IBC, enhancing 
India's global economic standing.
Cross-Border Insolvency under Insolvency and Bankruptcy Code
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