Europa Regionum

Supervisor of the reorganization arrangement is a new institution that Restructuring Law introduced to one of the four restructuring proceedings – proceedings for the approval of the reorganization arrangement. The supervisor was introduced next to the administrator and court supervisor, which puts him in the role of „authority” of the proceedings. However this is a special role that is significantly different – if not competitively, for certain structurally – from the, well-established in theory and practice, role of court supervisor. Supervisor of the reorganization arrangement acts in the foreland of the judicial proceedings. Debtor choses the supervisor independently, beyond the control of the court and the opinion of the creditors. Supervisor has competences specified in the law, but acts under the agreement with the debtor, and his presence in no way restricts the debtor in the management of his assets. All this makes the position of supervisor of the reorganization arrangement and his role in the restructuring proceedings deserving closer attention, both from the perspective of a recovery goal of the proceedings for the approval of the reorganization arrangement and from the point of view with supervisor being (as the restructuring adviser) service provider to the debtor.