The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:
For more information on what a special manager is, who can appoint them and when they can be appointed, see Practice Note: What is a special manager, and when to appoint one?
The process for appointing a special manager under the Insolvency Act 1986 (IA 1986) is almost identical in corporate insolvency and in bankruptcy. In any application, there are likely to be three considerations:
the form of the application
the office-holder's report, which accompanies the application, and
the security to be given by the special manager
The application is made by way of an insolvency application under Part 12 of the Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016) in personal or corporate insolvency. The application should be made to the court which has jurisdiction over the relevant insolvency.
The application should be made by way of an application notice. There is no prescribed form for the application, but it must contain the standard information for all insolvency applications required by IR 2016, SI 2016/1024, r 1.35(2).
When completing the application notice, particular thought should be given to whether:
any other party needs to be joined to the application; and
whether a hearing is required to dispose of the application
It is good practice for the office-holder to inform the creditors (and in a bankruptcy, the bankrupt) of an
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