The “second opinion” special purpose liquidator: A second opinion

Publication Type:
Journal Article
Insolvency Law Bulletin, 2020, 20, (8), pp. 158-163
Issue Date:
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Until relatively recently, the appointment of a special purpose liquidator (“SPL”) was largely confined to proven situations of actual or perceived conflict (or lack of independence) on the part of an incumbent liquidator. However, in recent years courts have entertained the appointment of a SPL in circumstances where no specific concerns are demonstrated with respect to the independence, conduct or judgment of the incumbent liquidator. This article critically analyses this new judicial attitude to SPL appointments and raises some legal and policy concerns with respect to their increasing use and prevalence.
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