Published 5 August 2020
The fields of insolvency and arbitration laws continue to be at loggerheads in the absence of any internationally recognised instrument dealing with their interaction. With the jurisprudence of the insolvency law in India evolving after the enactment of the IBC in 2016, the authors seek to discuss the impact of the IBC on India seated arbitrations and suggest changes in the present system to harmonise the two fields. Part I discusses the issues which arise before the arbitral tribunals at the preliminary stage while dealing with the question of interaction. Part II provides a comprehensive study of the impact of Indian cases and insolvency laws on the India seated arbitration proceedings. Part III compares the laws of the UK, Germany and the US which have a more developed jurisprudence on this matter. In Part IV the authors have included suggestions with the intention to ease the interaction of the two fields in India. In conclusion, the authors promote acceptance of a modified version of universalism in insolvency law and call upon the concerned international authorities to enact Model Laws and Legislative Guides to particularly regulate the interaction of the two fields.
This paper is part of a series of papers on the "Overlap between Bankruptcy / Insolvency Proceedings and Arbitrations ...". More information here www.transnational-dispute-management.com/news.asp?key=1812