Cap. 6activeordinance

Bankruptcy Ordinance

破產條例

Full legislation

s.20K

Implementation and supervision of approved voluntary arrangement

(1)
Where a voluntary arrangement approved by a creditors’ meeting summoned under
section 20E
has taken effect and the debtor, any of his creditors or any other interested person is dissatisfied by any act, omission or decision of the nominee, he may apply to the court; and on such an application the court
may—
(a)
confirm, reverse or modify any act or decision of the nominee;
(b)
give him directions; or
(c)
make such other order as it thinks fit.
(2)
The nominee may apply to the court for directions in relation to any particular matter arising under the voluntary arrangement.
(3)
The court may,
whenever—
(a)
it is expedient to appoint a person to carry out the functions of the nominee; and
(b)
it is inexpedient, difficult or impracticable for an appointment to be made without the assistance of the court,
make an order appointing a person who is experienced in insolvency matters, either in substitution for the existing nominee or to fill a vacancy.