In his speech, Justice Kaul called for a framework to regulate cross-border insolvency, either through territorial proceedings in multiple fora with multiple laws, or under one court having exclusive jurisdiction over insolvency proceedings.
He flagged the effectively inoperative status of the World Trade Organisation (WTO) appellate body since 2019 due to a lack of appointments.
“We must ensure that the appellate body of the WTO resumes its functioning. At the recently concluded G-20 summit in India, members declared that there was a need to pursue reform of the WTO to improve its functions and conduct discussions to ensure a well-functioning dispute settlement system by 2024.“
Source: Barandbench
