Generally, there are two distinct business rescue mechanisms available under the Companies Act 2016, namely judicial management and company voluntary arrangement. For the purposes of our mission, only judicial management mechanisms will be discussed. Say no to plagiarism. Get Custom Essay on “Why Violent Video Games Should Not Be Banned”?Get Original Essay The court management process essentially allows the directors, shareholders or creditors of a particular company to ask the court to appoint a manager judicial qualified to direct the management of the company when the situation of improvement or restoration of the company is required[1]. One or more creditors of the company have the right to request judicial management[2]. However, the request for judicial management by creditors is subject to the conditions that the interest of creditors would be better served rather than liquidation[3]. Judicial management under the Companies Act 2016 has proven to be more favorable to creditors than to the debtor. Indeed, the law contains provisions which grant certain advantages to a company's creditors. The best example to illustrate this is section 405(1) of the Companies Act 2016, which allows a creditor, including a prospective or prospective creditor, to apply for a judicial management order. Once the condition for filing a judicial management is met, the applicant, that is to say the creditor, will appoint the judicial manager. Section 405(5) (b) of the Companies Act 2016 empowers the applicant to appoint an acting judicial director. During the entire process of application for judicial management until such applications become an order or are dismissed, the company shall not pass any resolution, no security shall be executed and no proceedings shall take place without the permission of the court [4]. The particularity of judicial management is that the moratorium begins automatically from the start of the judicial management procedure. During the six-month moratorium period, the company cannot be dissolved[5]. In addition, the company will also be protected from any legal proceedings and no shares may be issued or transferred[6]. This deadline could be extended by up to six additional months if the Court so requires[7]. The judicial manager plays an important role in the judicial management process that he is required to exercise to ensure the management of the company and accomplish the tasks that the court entrusts to him. In addition to this point, the judicial manager also has the duty to prepare and present a suitable restructuring plan for the good of the company. It must be approved by a constant majority of 75% of the total value of creditors whose claim has been recognized by the trustee during the creditors' meetings. In the event that such a restructuring plan is approved by the creditors, the judicial manager will appeal to the court so that the plan is legally authorized. Above is explained the brief procedure on how a judicial management process could take place in a company. There are also situations which once again reaffirm that the judicial management is creditor, in which the creditor or members of the company must seek an order from the court when the affairs and assets of the company managed by the judicial manager have been carried out in an unfairly prejudicial manner which affected the interests of creditors or members[8] or any act or omission of the court manager was of a very prejudicial nature[9]. In other words, creditor members are authorized to seize the..