13 November 2018

Back to India

Many years ago this blog began as PryorPostsIndia. In my initial forays into the world of blogging I posted about my experiences on my Spring 2009 Fulbright grant to teach at the National Law University in Jodhpur. You can read one of my early ones here.

As the well-wishes from Donald and Melania attest, I'll be heading back to India on a second Fulbright in Spring 2019. This time I'm traveling under a research grant to study the implementation of the Indian Insolvency and Bankruptcy Code of 2016. While my choice of topics might strike many as painfully dull, it's important to remember that functioning market economies require a system (and corresponding institutions) to deal with market failure.

I first posted on this subject in 2010 and thereafter (here, here, and here) continued to urge the Government of India to move toward a comprehensive bankruptcy law. While I am confident my blogging had nothing to do with what ultimately happened, I think it's important to understand the what's and the how's of this law. After all, in the not too-distant future an Indian firm subject to this statute will seek to administer assets in the United States and Chapter 15 of the U.S. Bankruptcy Code requires that American bankruptcy courts recognize the priority of Indian case and apply the Indian Bankruptcy Code to the extent it does not conflict with U.S. law.

I expect to post from India next year so stay tuned.

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