Stakeholders Consultation Committee's Advice Not Binding On Liquidator: Supreme Court

The Supreme Court has ruled that the advice given by Stakeholders’ Consultation Committees is not binding on liquidators in insolvency proceedings. This ruling clarifies that while such committees can offer recommendations, the ultimate decision-making authority rests with the liquidator. This ensures that the liquidator retains discretion in managing the insolvency process, thereby maintaining the effectiveness and independence of the liquidation process.