ADD new paragraph to the end of the text:  The insolvency Act 1986 makes specific provision for the appointment of managers and receivers is certain cases of personal insolvency.  Save in cases where the bankrupt's estate vests in a trutee immediately on the making of the bankruptcy order [note 27a], the effect of the bankruptcy order is to appoint the Official Receiver as receiver of the bankrupt's estate for the period up to the point where the estate vests in the trustee in bankruptcy [note 27b]. During the period of his appointment, the Official Receiver's function is to protect the estate: to this end, he has the same powers as if he were a receiver or manager appointed by the High Court, and is entitled to sell (or otherwise dispose of) goods which are perishable or whose value is likely to diminish unless disposed of [note 27c].  The Official Receiver may also be appointed as an interim receiver, at any point between the presentation of a bankruptcy petition and the making of a bankruptcy order [note 27d].  The court's power to make such an order only arises where it is satisfied that the appointment of an interim receiver is necessary for the protection of the debtor's property [note 27e].  Unless the order appointing the Official Receiver provides otherwise, his rights, powers, duties and immunities as interim receiver are the same as they would be if the receivership arose under section 287 of the 1986 Act [note 27f].  Although the court has a specific power to appoint the Official Receiver as interim receiver of the debtor's property, that does not exclude its general power to appoint some other person as interim receiver under section 37 of the Supreme Court Act 1981 [note 27g]; but it is to be doubted whether it could exercise both jurisdictions so as to appoint two different people to act as receiver at the same time [note 27h]. Whether the appointment arises under section 286 or section 287, the Official Receiver's role as manager (as opposed to his role as receiver) is subject to section 370 of the Insolvency Act 1986 [note 27i].

Footnotes:

ADD Note 27a: Insolvency Act 1986, s.287(5).

ADD Note 27b: Insolvency Act 1986, s.287(1).

ADD Note 27c: Insolvency Act 1986, s.287(2).

ADD Note 27d:  Insolvency Act 1986, s.286.

ADD Note 27e: Insolvency Act 1986, s.286(1)&(2).

ADD Note 27f: Insolvency Act 1986, s.287(3).

ADD Note 27g: Rio Properties Inc. v Gibson Dunn & Crutcher and another [2004] EWCA Civ 1043.  It is only exceptional circumstances which would justify the exercise of the court's general power under SCA 1981 s.37 rather than IA 1986 s.286: ibid.

ADD Note 27h: While not deciding this point, the Court of Appeal has indicated that it would take the most exceptional circumstances to justify the making of such an order: Rio Properties v Gibson  Dunn & Crutcher, at [54], [56].

ADD Note 27i: Insolvency Act 1986, s.287(1).