Therefore, ethics and professionalism of individuals in such positions go a long way in ensuring that such errors do not occur. Centrum and other professionals, therefore, must ensure that their mission statements and professional codes of conduct do not remain mere fancy statements but become their raison d’être. 5. Against this backdrop, I will structure my discussions in various segments.
First, I will elaborate on what constitutes debt restructuring and the genesis of restructuring, including that of corporate debt restructuring, in the country. I will then discuss why restructuring is important and also what is the role of regulators in debt restructuring. Debt restructuring, in particular corporate debt restructuring, has become a subject of discussion of late.