s 89 Purpose of judicial management and judicial manager
89.—(1) The judicial manager of a company must perform the judicial manager’s functions to achieve one or more of the following purposes of judicial management:(a) the survival of the company, or the whole or part of its undertaking, as a going concern; (b) the approval under section 210 of the Companies Act 1967 or section 71 of a compromise or an arrangement between the company and any such persons as are mentioned in the applicable section; (c) a more advantageous realisation of the company’s assets or property than on a winding up. (2) A judicial manager or an interim judicial manager of a company must perform the functions of the judicial manager or interim judicial manager in the interests of the company’s creditors as a whole. (3) A judicial manager or an interim judicial manager of a company must perform the functions of the judicial manager or interim judicial manager as quickly and efficiently as is reasonably practicable. (4) A judicial manager or an interim judicial manager of a company is an officer of the Court (whether or not the judicial manager or interim judicial manager is appointed by the Court).