134 Special managerIn 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 manage1:134.1 the bankrupt’s estate; or134.2 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
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:
the bankrupt’s estate; or
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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