 An examiner is not immune from suit and may not exclude personal liability in the scheme of arrangement.The examiner's most important function is to attempt to formulate proposals for a scheme of arrangement which will facilitate the survival of the company and the whole or part of its undertaking as a going concern.A scheme of arrangement frequently involves a new investor acquiring all or substantially all of the shareholding in the company together with a write down of the company's debt across a range of classes of creditors.