Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 7 · Judicial Management
102. Agency and liability for contracts
Feedback & supportThe judicial manager of a company —
judicial manager
“judicial manager”, in relation to a company, means a person appointed under this Part to manage the company and its affairs, business and property, but does not, unless a contrary intention appears, include an interim judicial manager;
is deemed to be the agent of the company; and
is entitled to have the judicial manager’s remuneration and expenses defrayed, out of the property of the company that is in the custody or under the control of the judicial manager, in accordance with section 114 and in priority to all other debts except those subject to a security to which section 100(2) or 101(1)(c) or (d) applies.
Nothing in this section limits the right of a judicial manager to seek an indemnity from any other person in respect of contracts entered into by the judicial manager that are approved by the Court.