Replacement of resolution professional requires board recommendation and appointing authority to ensure handover and cooperation obligations. Under the Fresh Start process the debtor or a creditor may apply for replacement of the resolution professional; the Adjudicating Authority refers the application to the Board, which recommends an insolvency professional with no pending disciplinary proceedings; the Adjudicating Authority appoints the recommended professional and may direct the replaced professional to share information and cooperate with the new appointee.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Replacement of resolution professional requires board recommendation and appointing authority to ensure handover and cooperation obligations.
Under the Fresh Start process the debtor or a creditor may apply for replacement of the resolution professional; the Adjudicating Authority refers the application to the Board, which recommends an insolvency professional with no pending disciplinary proceedings; the Adjudicating Authority appoints the recommended professional and may direct the replaced professional to share information and cooperate with the new appointee.
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