Resolution Professional duties and powers in pre-packaged insolvency enforce claim confirmation, information access, and creditor committee oversight. The Resolution Professional is required to conduct the pre-packaged insolvency resolution process, confirm and maintain the list of claims, inform creditors of confirmed claims, prepare the information memorandum, monitor management, constitute and service the committee of creditors, and initiate avoidance or fraudulent trading proceedings where applicable. He may access all books, electronic records, government and third-party documents, attend corporate meetings, appoint professionals, and collect two years' financial and operational information to assess the debtor's position. Financial institutions must furnish information and the debtor's personnel must cooperate; fees are prescribed and subject to creditor committee limits and ratification.
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Provisions expressly mentioned in the judgment/order text.
Resolution Professional duties and powers in pre-packaged insolvency enforce claim confirmation, information access, and creditor committee oversight.
The Resolution Professional is required to conduct the pre-packaged insolvency resolution process, confirm and maintain the list of claims, inform creditors of confirmed claims, prepare the information memorandum, monitor management, constitute and service the committee of creditors, and initiate avoidance or fraudulent trading proceedings where applicable. He may access all books, electronic records, government and third-party documents, attend corporate meetings, appoint professionals, and collect two years' financial and operational information to assess the debtor's position. Financial institutions must furnish information and the debtor's personnel must cooperate; fees are prescribed and subject to creditor committee limits and ratification.
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