Appointment of an Adviser for a corporate proposal
4.10
Can a Sponsor reject a Sponsored Corporation’s request to appoint an Adviser to undertake a corporate proposal?
Yes, however pursuant to Rule 4.25 of the ACE LR, a Sponsor must not unreasonably withhold its consent to the Sponsored Corporation’s request to appoint an Adviser for the purpose of undertaking a corporate proposal. The Sponsor should act professionally in considering the request for the appointment of an Adviser.