Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This rule applies in relation to an application under subsection 60 - 11(1) of the Insolvency Practice Schedule (Corporations) for a review of a remuneration determination for an external administrator of a company.
Note 1: Section 60 - 11 of the Insolvency Practice Schedule (Corporations) does not apply in relation to the remuneration of a provisional liquidator or a liquidator appointed by ASIC under section 489EC of the Corporations Act: see section 60 - 2 of the Insolvency Practice Schedule (Corporations).
Note 2: An application may not be made under subsection 60 - 11(1) of the Insolvency Practice Schedule (Corporations) for a review of a remuneration determination made by the Court under paragraph 60 - 10(1)(c) or (2)(b) of that Schedule: see subsection 60 - 11(5) of that Schedule.
(3) At least 21 days before filing the originating process, or the interlocutory process, applying for a review, the plaintiff or applicant must serve a notice, in accordance with Form 16A, of intention to apply for the review and a copy of any affidavit on which the plaintiff or applicant intends to rely (other than an affidavit required by subrule (9)), on the following persons:
(a) if there is a committee of inspection--each member of the committee;
(b) if the remuneration of the external administrator was determined by the creditors--each creditor who was present, in person or by proxy, at the meeting of creditors at which the remuneration was determined;
(c) each member of the company whose shareholding represents at least 10% of the issued capital of the company.
(4) Within 21 days after the last service of the documents mentioned in subrule (3), any person on whom the notice has been served may serve on the plaintiff or applicant a notice:
(a) stating the person's intention to appear at the hearing of the application for review; and
(b) setting out the issues that the person seeks to raise before the Court.
(5) A person mentioned in subrule (3) is entitled to be heard on the application for review, but only (unless the Court otherwise orders) if the person has served on the plaintiff or applicant a notice in accordance with subrule (4).
(6) If the plaintiff or applicant is served with a notice in accordance with subrule (4), the plaintiff or applicant must serve a copy of the originating process or interlocutory process applying for the review on each person who has served such a notice.
(7) The external administrator must file an affidavit stating the following matters:
(a) the matters mentioned in section 60 - 12 of the Insolvency Practice Schedule (Corporations);
(b) the nature of the work performed or likely to be performed by the external administrator;
(c) the amount of remuneration claimed by the external administrator if that amount is different from the amount of remuneration that has been determined;
(d) a summary of the receipts taken and payments made by the external administrator;
(e) particulars of any objection to the remuneration as determined, of which the external administrator has received notice;
(f) if the external administration is continuing--details of any matters delaying the completion of the external administration.
(9) The plaintiff or applicant must:
(a) file an affidavit stating whether any notice or notices under subrule (4) has or have been served; and
(b) annex or exhibit to the affidavit a copy of any such
notice.