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The Cross-Border Insolvency Regulations (Northern Ireland) 2007

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This is the original version (as it was originally made).

Misfeasance by foreign representative
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29.—(1) The court may examine the conduct of a person who—

(a)is or purports to be the foreign representative in relation to a debtor; or

(b)has been or has purported to be the foreign representative in relation to a debtor.

(2) An examination under this paragraph may be held only on the application of—

(a)a Northern Ireland insolvency officeholder acting in relation to the debtor;

(b)a creditor of the debtor; or

(c)with the permission of the court, any other person who appears to have an interest justifying an application.

(3) An application under sub-paragraph (2) must allege that the foreign representative—

(a)has misapplied or retained money or other property of the debtor;

(b)has become accountable for money or other property of the debtor;

(c)has breached a fiduciary or other duty in relation to the debtor; or

(d)has been guilty of misfeasance.

(4) On an examination under this paragraph into a person’s conduct the court may order him—

(a)to repay, restore or account for money or property;

(b)to pay interest;

(c)to contribute a sum to the debtor’s property by way of compensation for breach of duty or misfeasance.

(5) In sub-paragraph (3) “foreign representative” includes a person who purports or has purported to be a foreign representative in relation to a debtor.

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