Role, powers, functions and duties of nominee or supervisor of a scheme of arrangement
Produced in partnership with Chris Mallon of Skadden
Role, powers, functions and duties of nominee or supervisor of a scheme of arrangement

The following Restructuring & Insolvency practice note produced in partnership with Chris Mallon of Skadden provides comprehensive and up to date legal information covering:

  • Role, powers, functions and duties of nominee or supervisor of a scheme of arrangement
  • Administration of the scheme
  • Role of the supervisor
  • Power and duties of the scheme supervisor
  • Binding the scheme supervisor to the scheme

Administration of the scheme

The scheme document will need to specify how the scheme of arrangement (scheme) will be administered and by whom. In circumstances where there are still issues to be finally determined between scheme creditors, or assets to be collected or realised on behalf of the estate, it can be helpful or necessary to appoint a scheme administrator. This will usually be a third party, often referred to as a scheme supervisor or scheme administrator. Any such scheme supervisor is generally either a licensed insolvency practitioner or an expert in the scheme company’s industry sector.

Role of the supervisor

The role given to the scheme supervisor or administrator should be carefully thought out and their powers and obligations clearly delineated. The appointment of a scheme supervisor will allow such person(s) to supervise, administer and implement the scheme, and to discharge the duties and responsibilities imposed on them by the scheme (usually as agent of the company).

The role of the scheme supervisor in a scheme of arrangement process will typically include (among other things):

  1. getting in and realising asse

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