The Insolvency and Bankruptcy Code is a ‘wonderful document’ in place but the challenge is in successfully implementing it, Supreme Court judge AK Sikri said on Saturday as he mentioned that provision for cross border insolvency is yet to be implemented. Emphasising that the Code is important for the country's economy, Justice Sikri said interpreting the law is also a challenge before National Company law Tribunal (NClT) and Insolvency and Bankruptcy Board of India (IBBI). The Code is implemented by IBBI and cases are taken up after approval from NClT. The Code, which provides for a market-determined and time-bound resolution of insolvency proceedings, became operational in Dec, 2016.