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| Sunday, 11 January 2004 |
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"Balancing, Recovery, Restructuring and Liquidation - the emerging challenges in Asia" The Colombo Conclave, a mega event and the First Business Recovery and Insolvency Professionals of Sri Lanka Conference jointly organised by INSOL India and BRIPA Sri Lanka will be held from Feb. 13 to 15, at the BMICH, Colombo. The theme of the conference is "Balancing Recovery, Restructuring and Liquidation - the Emerging challenges in Asia" and is being designed as an international conference to deliberate upon issues, which concern the Asian countries at large and the Indian sub-continent countries in particular. This conference is a collective effort in finding ways and means to assist business enterprises when they are on the verge of collapse, said Ajith Nirvard Cabral, the Co-Chairman of the, Joint Organising Conference and President BRIPASL, at a media conference held recently. He said that the confab will focus attention on issues related to debt recovery as it was an important issues in respect of businesses on the verge of collapse." We want to find out means to help them and save them from bankruptcy", he added. Dr. Harsha Cabral, Secretary of the BRIPASL said that the existing law in the land in relation to business enterprises, needs reform. "It is time we lobby for reform of the Companies Ordinance. The present law, the Companies Act No. 17 of 1982 based on 1938 Companies Ordinance and English laws prevalent in 1948 is archaic and that needs change", he added. Cabral said the conference would attract leading lawyers, accountants, bankers and other professionals from Sri Lanka, India and approximately from twenty other countries. Experts from the two host countries and jurisdictions across the world are expected to participate at this mega event. Speakers of international standing and expertise will present papers at the conference which will be graced by a number of representatives from the World Bank, Asian Development Bank, UNCITRAL and other international agencies. The Colombo Conclave will provide a great opportunity to catch up on current developments as well as for socialising with the other insolvency and turnaround professionals from across the world. Introducing the INSOL India, its secretary and senior partner of Kesar Das and Associates of New Delhi Sumant Batra said the Association formed in 1997 was a member of the INSOL International. While the membership of the Association is open to judges, advocates, chartered accountants, company secretaries, law firms, accountancy firms, financial institutions, banks, stock exchanges and insurance companies, desirous of the development, diffusion and advancement of law relating to insolvency and other fiscal laws, he said. BRIPASL established with a objective to promote and play a leadership role in connection with and in relation to corporate turnarounds and insolvencies in Sri Lanka. It is also found to restructuring of sick industries and other business establishments. |
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