Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This rule applies in relation to an application by a provisional liquidator of a company for a determination under subsection 60 - 16(1) of the Insolvency Practice Schedule (Corporations) of the remuneration the provisional liquidator is entitled to receive.
(2) The application must be made by interlocutory process in the winding up proceeding.
(3) At least 21 days before filing the interlocutory process seeking the determination, the provisional liquidator must serve a notice in accordance with Form 16 of the provisional liquidator's intention to apply for the determination, and a copy of any affidavit on which the provisional liquidator intends to rely, on the following persons:
(a) any liquidator (except the provisional liquidator) of the company;
(b) each member of any committee of inspection or, if there is no committee of inspection, each of the 5 largest (measured by amount of debt) creditors of the company;
(c) each member of the company whose shareholding represents at least 10 per cent of the issued capital of the company.
(4) Within 21 days after the last service of the documents mentioned in subrule (3), the liquidator, or any creditor or contributory, may give to the provisional liquidator a notice of objection to the remuneration claimed, stating the grounds of objection.
(5) If the provisional liquidator does not receive a notice of objection within the period mentioned in subrule (4):
(a) the provisional liquidator may file an affidavit, made after the end of that period, in support of the interlocutory process seeking the determination stating:
(i) the date, or dates, when the notice and affidavit required to be served under subrule (3) were served; and
(ii) that the provisional liquidator has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (4); and
(b) the provisional liquidator may endorse the interlocutory process with a request that the application be dealt with in the absence of the public and without any attendance by, or on behalf of, the provisional liquidator; and
(c) the application may be so dealt with.
(6) If the provisional liquidator receives a notice of objection within the period mentioned in subrule (4), the provisional liquidator must serve a copy of the interlocutory process seeking the determination:
(a) on each creditor or contributory who has given a notice of objection; and
(b) on the liquidator (if any).
(7) An affidavit in support of the interlocutory process seeking the determination must:
(a) state the nature of the work performed or likely to be performed by the provisional liquidator; and
(b) state the amount of remuneration claimed; and
(c) include a summary of the receipts taken and payments made by the provisional liquidator; and
(d) state particulars of any objection of which the provisional liquidator has received notice; and
(e) if the winding up proceeding has not been determined--give details of:
(i) any reasons known to the provisional liquidator why the winding up proceeding has not been determined; and
(ii) any reasons why the provisional liquidator's remuneration should be determined before the determination of the winding up proceeding.
(8) The affidavit must also provide evidence of the matters mentioned in section 60 - 12 of the Insolvency Practice Schedule (Corporations):
(a) to the extent that they may be relevant to a provisional liquidator; and
(b) as if references in that subsection to 'external administrator' were references to 'provisional liquidator'.