The Challenging Issue of Obtainment of a Consent of an Official Receiver for the Approval of the Debtor’s Property by a Financial Manager within the Framework of a Private Bankruptcy Procedure

Abstract

In the article the author reveals the relevance of the problem of insolvency trustees’ consent to be approved as a financial manager in consumer bankruptcy proceedings and, having identified common features of the status and functioning of the advocacy and self-regulated organizations of arbitration managers, makes proposals to change the current legislation in terms of developing a mechanism for approval of financial managers, by analogy with the mechanism of appointment of defence counsel in criminal proceedings.