Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 14 · Voluntary Arrangements
286. Implementation and supervision of approved voluntary arrangement
Feedback & supportWhere 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.
nominee
“nominee” means the person appointed by virtue of a debtor’s proposal for a voluntary arrangement under Part 14 to act as trustee or otherwise to supervise the implementation of the voluntary arrangement and includes —(a)any replacement of such person pursuant to a direction under section 280(3)(a) or an order under section 286(5); and(b)any person upon whom the functions of the nominee have been conferred by a creditors’ meeting pursuant to section 282(3);
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.
debtor
“debtor” means the individual to whom a debt repayment scheme applies under this Part;
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.
The nominee may apply to the Court for directions in relation to any particular matter arising under the voluntary arrangement.
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.