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Part 2 · Opening of insolvency proceedings. Recognised assets and parties to proceedings  ›  Division 3 · Insolvency administrator. Bodies representing creditors › Section 66

Rendering of accounts

(1) Upon expiry of his or her office, the insolvency administrator is required to render account to an assembly of creditors.

(2) Prior to such assembly of creditors, the insolvency court verifies the administrator’s rendering of accounts. The court lays out the administrator’s final account with supporting documents, with a remark indicating verification of the account and with any comments by the creditors’ committee, if one has been appointed, for the parties’ inspection; it may set a deadline for the creditors’ committee to make a statement. The period between the laying out of such documents and the date of the creditors’ assembly is, as a rule, to be at least one week.

(3) The creditors’ assembly may charge the administrator with intermediate accounts to be rendered on certain dates during the proceedings. Subsections (1) and (2) apply accordingly.

(4) The insolvency plan may derogate from the above.

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