What is a Judicial Administrator?
The Judicial Administrator (A.J.) is a professional appointed by the court to supervise and administer the insolvency process of a company or individual. The A.J. in a process of this nature acts as an intermediary between the debtor and the creditors, ensuring that the process is conducted fairly and efficiently.
What are the main functions of the Judicial Administrator?
The main functions include:
- - Assess the debtor's assets and liabilities.
- - Supervising the administration of the debtor's assets.
- - Preparing reports for the court and creditors.
- - Calling and chairing creditors' meetings.
- - Proposing asset recovery or liquidation plans.
How is a trustee appointed?
The appointment is made by the court handling the insolvency proceedings. The court can choose a Judicial Administrator from its list of qualified professionals or, in some cases, accept suggestions from the parties involved in the proceedings.
What are the rights and duties of the Judicial Administrator?
Rights:
- - Access to all the debtor's information and documents.
- - Remuneration for your work, as stipulated by the court.
Duties:
- - Act impartially and diligently.
- - Protecting the interests of creditors and the debtor.
- - Comply with the deadlines and procedures established by the court.
How does the Judicial Administrator deal with creditors?
The Judicial Administrator maintains regular communication with creditors, informing them of the progress of the process, calling meetings and presenting quarterly reports on the state of the liquidation, as well as payment proposals.
What happens if the Trustee fails to fulfill his obligations?
If they fail to fulfill their obligations, the Judicial Administrator may be removed/replaced by the court, be held civilly and criminally liable and suffer disciplinary sanctions imposed by regulatory bodies.
How can I get in touch with the Judicial Administrator in charge of my case?
The contact details of the Judicial Administrator are usually provided by the court or can be obtained directly from the official website of the Judicial Administrators and through the office of the Judicial Administrator.
Where can I find more information about the role of the Judicial Administrator?
For more information, please consult:
- - Local laws and regulations on insolvency and bankruptcy.
- - Official websites of courts and regulatory bodies (CAAJ).
- - Professional Association of Judicial Administrators (APAJ).