SCHEDULE 2PROCEDURAL MATTERS

PART 9

MISFEASANCE

Misfeasance by foreign representative29

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.