O

Office Holder

This term again refers to the person who deals with the proceedings of an individual voluntary arrangement and other legal issues. This person must be a qualified insolvency practitioner, and he will have to hold a few different posts during the time: trustee in a bankruptcy, supervisor, administrative receiver, liquidator or provisional liquidator in a voluntary arrangement. The office holder must be qualified to hold all these posts in case the situation asks for it. Note that this meaning of office holder should not be confused with the political meaning of the word, where it refers to the leader of a political office.