The following Restructuring & Insolvency guidance note Produced in partnership with Chris Mallon of Skadden provides comprehensive and up to date legal information covering:
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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.
The role given to the scheme supervisor or administrator should be carefully thought out and the
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