Article
When FCRA Meets Insolvency: Can Foreign-Funded Assets Form Part Of An Insolvency Estate Under The IBC?
The Insolvency and Bankruptcy Code, 2016 (“IBC”) seeks to facilitate the resolution of insolvency, maximise the value of a corporate debtor’s assets and balance the interests of stakeholders. A central aspect of this framework is the identification and preservation of assets available for resolution or liquidation. However, the position becomes more complex when a corporate debtor holds assets acquired using foreign contributions regulated under the Foreign Contribution (Regulation) Act, 2010 (“FCRA”).
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