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.
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.
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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