Examining The Role Of Insolvency Professionals: A Comparative Study Between India, Usa, And Uk

Abstract

This paper presents a comparative study examining the role of insolvency professionals across three distinct jurisdictions: India, the USA, and the UK. Insolvency professionals play a critical role in managing distressed businesses and facilitating insolvency proceedings in these countries. By analyzing their functions, responsibilities, regulatory frameworks, and effectiveness, this paper aims to provide valuable insights into the similarities and differences in the roles of insolvency professionals across these jurisdictions. Drawing upon existing literature, regulatory documents, and case studies, the paper sheds light on the challenges and opportunities faced by insolvency professionals in each context, offering insight for strengthening their role and effectiveness in managing insolvency cases. Through this comparative analysis, and take-aways from USA and UK insolvency laws, the policymakers, practitioners, and academia in India, can gain a deeper understanding of the evolving landscape of insolvency professionals’ dilemma, implementation challenges and in turn advocate regulatory reforms to improve insolvency professionals’ frameworks in India.