Commonwealth Consolidated Regulations

INSOLVENCY PRACTICE RULES (BANKRUPTCY) 2016 - RULE 60.15

    In making a remuneration determination under subsection   60 - 11(1) of the Insolvency Practice Schedule (Bankruptcy), the Inspector - General must have regard to whether the remuneration is reasonable, taking into account any or all of the following matters:

  (a)   the extent to which the work by the trustee was necessary and properly performed;

  (b)   the extent to which the work likely to be performed by the trustee is likely to be necessary and properly performed;

  (c)   the period during which the work was, or is likely to be, performed by the trustee;

  (d)   the quality of the work performed, or likely to be performed, by the trustee;

  (e)   the complexity (or otherwise) of the work performed, or likely to be performed, by the trustee;

  (f)   the extent (if any) to which the trustee was, or is likely to be, required to deal with extraordinary issues;

  (g)   the extent (if any) to which the trustee was, or is likely to be, required to accept a higher level of risk or responsibility than is usually the case;

  (h)   the value and nature of any property dealt with, or likely to be dealt with, by the trustee;

  (i)   the number, attributes and conduct, or the likely number, attributes and conduct, of the creditors;

  (j)   if the remuneration is worked out wholly or partly on a time - cost basis--the time properly taken, or likely to be properly taken, by the trustee in performing the work;

  (k)   whether the trustee has followed the procedure in the Insolvency Practice Schedule (Bankruptcy) and these Rules for estimating remuneration, including whether the trustee has adequately described to creditors the work performed or to be performed;

  (l)   whether the trustee has given the regulated debtor and the creditors the notices required to be given under these Rules;

  (m)   any other relevant matters.