Name: Practical Insolvency Management: Business Operations, Administration & Strategy
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KEY BUSINESS MODELS AND ROLE OF DEBT

Key business models and role of debt Bank finance Private credit transactions & venture debt Bond/debenture issuance Supply-chain financing Discounting deals Revenue-based financing Other 3rd-party financing collaborations for EMI - B2C businesses Treatment of guarantors and co-guarantors Junior vs. senior debt, subordination clauses Operational vs. financial debt

HOW TO FORM THE COMMITTEE OF CREDITORS & ADMISSION OF CLAIMS

Identifying financial and operational creditors based on different transactions How to evaluate and categorise applications of financial creditors & operational creditors How to run the procedure and proceedings for admission of claims What is the necessary documentation to admit or reject claims Collation, verification and validation of claims against the CD Enforceability of debt - understanding stamp duty & valid execution requirements How to deal with challenges Drafting a Public Announcement Notice regarding initiation of Insolvency proceedings Drafting and issuance of notices to creditors and other stakeholders Constitution of the CoC

HOW TO ADMINISTER MEETINGS OF THE COMMITTEE OF CREDITORS

Convening CoC meetings & preparing agendas, minutes, and resolutions Typical areas of assistance needed by RPs from professionals How to set up and manage the voting process for key decisions How to participate in claim process and CoC meetings as a representative of the committee of creditors

HOW TO RUN THE BUSINESS AS A GOING CONCERN PENDING INSOLVENCY RESOLUTION

How to ensure that business keeps running and minimise ongoing losses How to deal with existing management and employees How to identify where costs can be optimised Should RPs take business decisions and on what fronts Where to avail assistance of specialists Where to take inputs from the board of directors

FINANCIAL ASSESSMENT & MANAGEMENT OF ASSETS

Determining the financial position of the CD, collecting, analysing financial statements, bank statements Collecting information relating to the CD’s business operations, financial and operational payments, list of assets and liabilities Appointing valuers to assess the assets of the corporate debtor for potential sale or restructuring, preparing necessary reports thereon Securing assets of the CD and managing its day-to-day operations to keep it a going concern

INVITATION OF RESOLUTION PLANS

Preparing an Information Memorandum for formulation of a Resolution Plan in terms of Regulation 36 (2) of the CIRP Regulations Inviting prospective applicants to submit their proposed resolution plans & assessing the plans’ validity against statutory criteria Assisting the CoC in evaluation of resolution plans How to assess and evaluate the feasibility and viability of the submitted resolution plans Refining the plans to devise the most effective resolution strategy Raising interim finance for the CIRP

APPROVAL OF RESOLUTION PLAN

Organising voting on the resolution plans How to check compliance with statutory requirements Filing of the approved resolution plan with the National Company Law Tribunal (NCLT) for approval Forwarding all records relating to the conduct of the corporate insolvency resolution process and the resolution plan to the Insolvency and Bankruptcy Board of India How to deal with challenges before the NCLT

IMPLEMENTATION OF APPROVED INSOLVENCY PLAN

Role of RP in implementation Administration of meetings Key documents and procedures to run Identifying & ironing out post-approval gaps in the implementation of the resolution plan Reporting to the CoC and NCLT on progress, issues, and financial health of the CD Closure of the CIRP process

HOW TO DEAL WITH CHALLENGES

How to represent the RPs case Common orders of the NCLT/NCLAT/Supreme Court and how to comply with them What to do if preferential, undervalued, fraudulent transactions are detected

HOW TO HANDLE LIQUIDATION PROCESS IF INSOLVENCY FAILS

Role of liquidation professional during the liquidation process Methods of liquidation Conducting an assessment of the fair values of assets, and a preparation of the liquidation value assessment Implementation through waterfall What to do if an entity proposes to buy the business as a going concern

ADMINISTRATIVE & SECRETARIAL TASKS FOR THE IP’S SUPPORT STAFF

Maintaining records, documents, and communications related to the CIRP Managing financial records, including receipts and expenditures incurred during the process Ensuring compliance with all regulatory and statutory requirements throughout the CIRP Handling filings with the Registrar of Companies (RoC) as required Preparing minutes of meetings for the CoC and other stakeholder gatherings Drafting and sending communication letters to stakeholders, including creditors, regulatory bodies, and other relevant parties Facilitating any audits or reviews requested by CoC

CLOSURE OF CIRP

Preparation and submission of a final report upon completion of the CIRP, summarising all activities, outcomes, and financial distributions Overseeing compliance with the resolution plan post-implementation

KEY COMPONENTS OF A RESOLUTION PLAN

Business Plan & Financial Projection: Plan for the business to ensure that it remains a going concern, including its management and control during the resolution plan’s term Detailed description of the Resolution Applicant’s profile, experience in the given sector, and SWOT analysis Detailed proposition for appointment of board directors, employee retention, technical experts and key business, legal, employment, tax, intellectual property and liability issues Executive overview highlighting the main elements of the plan, such as how creditors will be treated Details of payment as prioritised to different creditors alongwith the payment timelines & implementation schedule Resolution tools proposed to restructure the entity Resolvability assessment, identifying potential impediments to implementation of the resolution tools Details of required steps to resolve the insolvency of the CD, including those of any transfer or sale of assets or parts thereof

BONUS: 10 PRACTICAL TASKS YOU CAN PERFORM FOR CREDITORS

How to identify the appropriate RP based on cost and other criteria How to conduct financial audit from a creditor’s perspective prior to insolvency How to establish your claim and be part of the CoC How to protect your client’s interest when the evaluation matrix is being prepared How to evaluate a resolution plan from a creditor’s perspective How to prepare reports & updates for the investment committee or management or business teams How to review financial documents from an insolvency perspective How to challenge RP’s actions or CoC’s actions if you are a minority creditor or the decision is against your interest How to identify fraudulent/preferential transactions and highlight them to the CoC/RP or the NCLT How to liaise with external professional services firms & business consultants

Practical Insolvency Management: Business Operations, Administration & Strategy

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