Arbitration manager is the person, who carries out bankruptcy procedures.
Now arbitration management is the professional practice and the following demands are made to arbitration manager:
He has to have higher education, length of service on senior positions and also pass training as the assistant of arbitration manager;
He has to be trained according to the program of arbitration managers preparation, to pass theoretical examination;
He has to be the member of the self-regulating organization of arbitration managers. It is something like labor union of arbitration managers;
He should not have punishment in the form of disqualification for administrative violations and criminal records for deliberate crimes.
In each bankruptcy procedure arbitration manager is called differently. In external management – he is the external manager, in supervision – the interim manager, during financial improvement he is called as the administrative manager, and during competitive production – the competitive manager.
The arbitration manager in the case of bankruptcy takes the central position and has to provide balance of interests of various persons in the case of bankruptcy – creditors, workers, founders of the debtor and others.
If the arbitration manager violates the rights of participants of bankruptcy case, he can be discharged by arbitration court of duties fulfillment according to the complaint of the interested person or according to the petition of creditors meeting.
Important circumstance is that arbitration manager has to have team, after all on the bankruptcy case quite often happens that lawyers are needed for friendly creditors interests representation.
One on the field – not the soldier, and already now the arbitration manager working without team, risks not coping at the most crucial moment.
The majority of arbitration managers now are not established staff of the law firms which are engaged in carrying out procedures of bankruptcy, elimination and collecting debt.