282. Appointment of special manager Flashcards
1
Q
- Appointment of special manager
A
General overview
[282.01] This section provides that the liquidator may apply to court, if it is in the interest of the affairs and business of the company, creditors or contributories, to appoint a special manager to act during such time as the court directs with such powers, including the power of a receiver and manager. A special manager is often an expert appointed to undertake certain projects, which the liquidator may not be able to handle with the skills required such as a huge oil and gas project that the company in liquidation is involved in. Directors may be appointed as special managers in a voluntary winding up of a company
