Principle

COMPANY LAW — Receivership — Agency Relationship Between Debenture Holder and Receiver/Manager

Area of law
COMPANY LAW
Court
Supreme Court

A receiver/manager is the agent of the debenture holder, not the company. The principle applies to company law. The receiver also owes fiduciary duties to the company. The rule clarifies the dual role. The court will enforce the agency relationship. The principle is well-established.

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