Bengaluru/New Delhi, Aug. 18 -- The proposed revamp of the Insolvency and Bankruptcy Code (IBC) will increase the chances of a revival for real estate projects undergoing insolvency proceedings by discouraging litigation from dissenting creditors, providing greater flexibility to dispose assets, and offering more freedom to strike quick deals with potential investors, several experts told Mint.

The overhauled IBC will also give property developers greater access to capital and lower funding costs, and help reduce project delays with a creditor-led, out-of-court insolvency route, they said.

The IBC Amendment Bill proposes an ingenious way to encourage creditors to choose a restructuring plan that benefits homebuyers over liquidation. It ...