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Insolvency resolution is hired on an interim (temporary) basis in order to resolve the insolvency of the corporate debtor. To that end, there are several powers that an interim resolution professional can exercise. What are those powers, and responsibilities? Through this article, we are going to lift off the curtain of this topic.
We have already stated; it is the Insolvency professional who is responsible for conducting the insolvency resolution process. Now, how he conducts this entire endeavor has an impact on what powers he can exercise. Let us see:
These are the 4 major powers that the interim resolution professionals can exercise. As you can see, much of the powers are associated with granting the IP access to information, for the right information is the foundation upon which a proper resolution or liquidation plan is developed.
Hey there, I'm Dushyant Sharma. With the extensive knowledge I've gained in past 8 years, I have been creating content on various subjects such as banking, insurance, telecom, and all the important registration and licensing processes for various companies. I'm here to help everyone with my expertise in these areas through my articles.