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Judicial And Administrative Institutions

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Chapter Summary

Some systems give administrators broad powers, subject to limited judicial oversight. Because the great majority of countries use their courts to supervise insolvency proceedings, the focuses is on courts and judges first of all, along with two broad structural points. It is the prevalent pattern in most of the existing insolvency laws that administrators are entrusted with the central tasks of managing and handling insolvency proceedings; the success, speed, and efficiency of such proceedings depend primarily on the administrators' skills, knowledge, and experience. The administrator's competence is crucial for the efficiency and success of any insolvency proceeding - where success means the optimal result in a given case (liquidation or reorganization). The importance of the integrity of administrators has to be seen in close connection with what is said above about the eminently important confidence and trust in the actors in any insolvency proceeding.

Keywords: administrator; insolvency law; judicial



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