Stewardship and the insolvency practitioner: a review of the current position

Where business failure occurs, it is important that a new management regime should then be installed in the form of an independent and professionally qualified insolvency practitioner, whose function as office holder will be either to achieve rehabilitation or to perform an efficient burial in accordance with the norms of distributional justice. The purpose of this short article is to highlight in this context of the discharge of stewardship responsibilities by insolvency office holders a number of governance-related issues worthy of further exploration. This is a revised and updated version of a paper delivered by Professor David Milman at the Institute of Advanced Legal Studies on November 29, 2012.