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Proclaiming the Stark Realities: An Enquiry into the Multifaceted Challenges Encountered by the Insolvency Professionals in Corporate Restructuring and Asset Recovery—A Thematic Analysis

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  • Merin Johnson
  • Remya Ramachandran

Abstract

Insolvency professionals play key roles, such as resolution professionals, bankruptcy trustees and liquidators. They facilitate the implementation of the Insolvency and Bankruptcy Code (IBC), ensuring efficiency, transparency and credibility. The core objectives of IBC—resolution and maximization of value—are realized through corporate restructuring and asset recovery, led by insolvency professionals. However, limited academic attention has been given to the practical challenges, which this article examines through a qualitative approach. Semi-structured interviews were conducted with insolvency professionals and analysed. Key challenges include regulatory complexity, information gaps, valuation issues, creditor negotiations, structural ambiguity and reputation risks. The findings suggest areas for policy improvement.

Suggested Citation

  • Merin Johnson & Remya Ramachandran, 2026. "Proclaiming the Stark Realities: An Enquiry into the Multifaceted Challenges Encountered by the Insolvency Professionals in Corporate Restructuring and Asset Recovery—A Thematic Analysis," Vikalpa: The Journal for Decision Makers, , vol. 51(2), pages 155-174, June.
    • Handle: RePEc:sae:vikjou:v:51:y:2026:i:2:p:155-174
    DOI: 10.1177/02560909261424010
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