Hong Kong Ordinances

BANKRUPTCY ORDINANCE - SECT 15

Power to appoint special manager

(Past version on 01/04/1998).
(Past version on 30/06/1997).

(1) The court may, on the application of the Official Receiver or of any
creditor or creditors, and if satisfied that the nature of the debtor's estate
or business or the interests of the creditors generally require the
appointment of a special manager of the estate or business other than the
Official Receiver, appoint a manager thereof accordingly, who shall have such
powers (including any of the powers of a receiver) as may be entrusted to him
by the Official Receiver. (Amended 18 of 2005 s. 5)

(2) The special manager shall give security and account in such manner as the
court may direct.

(3) The special manager shall receive such remuneration as may be fixed by the
court. (Amended 76 of 1996 s. 10)

(4) The term of office of the special manager shall last until—

   (a)  in a case where a provisional trustee is appointed under
        section 12(1A), the appointment; or

   (b)  in any other case, a trustee is appointed or constituted under
        section 17, 100D(1), 112(4) or 112A(1)(i) or paragraph 6 of Part II of
        Schedule 1. (Added 18 of 2005 s. 5) [cf. 1914 c. 59 s. 10 U.K.]