External administrators often occupy quasi-judicial offices which, among other things, require them to:
Assess and adjudicate on competing interests
Take coercive and enforcement actions, including by conducting, reporting on, and acting upon, sensitive investigations
Exercise commercial and legal judgments, often in contentious and time sensitive circumstances
Engage with the market, the courts, regulators, and stakeholders
They must do all this while maintaining objectivity and discharging their own legal obligations. That description paints a relatively complex picture of the challenges faced by external administrators. However, the reality is their positions and the challenges they face are often far more complex and fraught for various reasons.