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Commentary

134 Special manager

BANKRUPTCY AND INSOLVENCY (INDIVIDUAL INSOLVENCY) vol 3(2)
| Commentary

134 Special manager

| Commentary

134 Special manager

In a trading bankruptcy, management of a bankrupt’s affairs may require active management in order to preserve the assets for creditors. To that end, the court may appoint a special manager, who may be appointed on the application of the interim receiver or trustee to manage1:

  1. 134.1

        the bankrupt’s estate; or

  2. 134.2

        the business of an undischarged bankrupt.

The applicant makes a report to the court to induce the appointment2. The special manager does not need to be a qualified insolvency practitioner3. The appointor remains fully accountable for the assets; the special manager merely carries out

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