Appointment of facilitators allows creditor sub-classes to request facilitator appointment; fees treated as part of resolution cost. Committee of creditors may direct the interim resolution professional or resolution professional to appoint an independent insolvency professional as ... Summary
Appointment of facilitators allows creditor sub-classes to request facilitator appointment; fees treated as part of resolution cost.
Committee of creditors may direct the interim resolution professional or resolution professional to appoint an independent insolvency professional as facilitator for a creditor sub-class where a sub-class, after the committee's first meeting, requests inclusion of an agenda item with the proposed facilitator's name; total number of facilitators is capped, the facilitator's fee is a prescribed proportion of the authorised representative's fee and is part of the insolvency resolution process cost, and the facilitator may be replaced on recommendation of a majority of the sub-class.
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