“The administrators of an insolvent company were the officers of the court with statutory powers to exercise their discretion to act for the interests of the creditors as a whole. The court had statutory power to removal and replace the administrators, but it had first to be established by the evidence that there was a good or sufficient ground or cause for the removal and replacement. Only then could the court properly proceed to consider the exercise of its discretion by having regard to all the relevant factors for and against an order for removal, such as the beneficial consequences of success in possible legal proceedings.”
WLR Daily, 21st July 2011
Source: www.iclr.co.uk
