Naomi Moore Quoted by Bloomberg on India’s Bankruptcy Overhaul
Bloomberg has quoted Naomi Moore, an Akin Gump financial restructuring partner, in the article “Ex-Lehman Banker Sees Gold Mine in India Bankruptcy Overhaul.” The article reports on the changes taking place in India as it moves forward with an overhaul of the bankruptcy system.
The Reserve Bank of India, the article notes, introduced a timeline this week for the country’s banks to recast bad loans. It also scrapped previous methods, as Prime Minister Narendra Modi’s government tries to clean up $210 billion of bad loans on banks’ balance sheets.
Moore said the new bankruptcy regime in India “created a buzz” for distressed investors when it first came into force. She pointed out, however, that much remains to be tested under the regime and the infrastructure that supports it.