Debt

Debt Financing

IBBI proposes code of conduct doe transparent working of CoCs

Economic Times  

The Insolvency and Bankruptcy Board of India (IBBI) proposed a code of conduct for the committee of creditors (CoC) under the insolvency law. IBBI, a key institution in implementing the Insolvency and Bankruptcy Code (IBC), has also proposed further measures to strengthen the regulatory framework for the liquidation process. The discussion paper related to CIRP is focused on three issues -- code of conduct for committee of creditors (CoC); restrictions on request for resolution plans and use of 'Swiss challenge' method; treatment of live bank guarantees and line of credit as claims.