Singapore legislation
Clause 286
Clause 286
Implementation and supervision of approved voluntary arrangement
(1)
Where a voluntary arrangement approved by a creditors’ meeting summoned under section 281 has taken effect, the nominee must supervise the implementation of the voluntary arrangement.
(2)
If the debtor or any of the debtor’s creditors is dissatisfied by any act, omission or decision of the nominee in the nominee’s supervision of the implementation of the voluntary arrangement, the debtor or creditor may apply to the Court to review that act, omission or decision.
(3)
On hearing an application under subsection (2), the Court may —
confirm, reverse or modify any act or decision of the nominee; or
give such directions to the nominee or make such order as the Court thinks fit.
(4)
The nominee may apply to the Court for directions in relation to any particular matter arising under the voluntary arrangement.
(5)
The Court may, whenever —
it is expedient to appoint a person to carry out the functions of the nominee; and
it is inexpedient, difficult or impracticable for such an appointment to be made without the assistance of the Court,make an order appointing a person who is qualified to act as a nominee, either in substitution for the existing nominee or to fill a vacancy.