Insolvency professionals' duties expand across resolution, liquidation and bankruptcy processes, with strict conduct and recordkeeping obligations. Insolvency professionals must take all necessary actions in relation to initiated insolvency, fresh start, liquidation and bankruptcy processes, including corporate, individual, pre-packaged and creditor-initiated insolvency resolution. Where a proposed resolution professional is approved for pre-packaged insolvency, the professional must also perform pre-initiation functions and duties. Every insolvency professional must exercise reasonable care and diligence, comply with bye-laws, allow inspection of records, submit records of proceedings to the Board and the relevant agency, and perform functions subject to specified conditions.
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.
Insolvency professionals' duties expand across resolution, liquidation and bankruptcy processes, with strict conduct and recordkeeping obligations.
Insolvency professionals must take all necessary actions in relation to initiated insolvency, fresh start, liquidation and bankruptcy processes, including corporate, individual, pre-packaged and creditor-initiated insolvency resolution. Where a proposed resolution professional is approved for pre-packaged insolvency, the professional must also perform pre-initiation functions and duties. Every insolvency professional must exercise reasonable care and diligence, comply with bye-laws, allow inspection of records, submit records of proceedings to the Board and the relevant agency, and perform functions subject to specified conditions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
AI OCR ✕
of 
TaxTMI 
TaxTMI 
