IIPI holds workshop on cross-border insolvency and model laws

Sometimes businesses run out of money and cannot pay what they owe.

Special rules help them sort out their money problems fairly.

When a business has money problems across more than one country, it is called cross-border insolvency.

A group called the Indian Institute of Insolvency Professionals of ICAI, or IIIPI, held a workshop about this.

The workshop was online, so people could join from different countries.

Experts from the European Union, the UK, Singapore and Australia shared their ideas.

Anita Shah Akella, a government official, said it is very important to make clear rules for such problems.

These rules help countries work together when a company is in trouble in many places.

The workshop helps people learn how to handle these big money puzzles.