SUPREME COURT (CORPORATIONS) RULES 20032003 No. 284- RULE 9.4 Remuneration of liquidator (Corporations Act, s 473 (3))

Commonwealth Numbered Regulations

Remuneration of liquidator (Corporations Act, s 473 (3))—form 16

(1): This rule applies to an application by a liquidator of a company for an order under the Corporations Act, section 473 (3) determining the liquidator's remuneration.

(a): must be made by interlocutory process in the winding-up proceeding; and
(b): must not be made until after the date of the meeting of creditors mentioned in the Corporations Act, section 473 (4).

(3): At least 21 days before filing the interlocutory process seeking the order, the liquidator must serve a notice in accordance with form 16 of the liquidator's intention to apply for the order, and a copy of any affidavit on which the liquidator intends to rely, on the following:

(a): each creditor who was present, in person or by proxy, at the meeting of creditors;
(b): each member of any committee of creditors;
(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 creditor or contributory may give to the liquidator a notice of objection to the remuneration claimed, stating the grounds of objection.
(5): If the liquidator does not receive a notice of objection within the period mentioned in subrule (4)—

(a): the liquidator may file an affidavit, made after the end of that period, in support of the interlocutory process seeking the order stating—

(i): the date, or dates, when the notice and affidavit required to be served under subrule (3) were served; and
(ii): that the liquidator has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (4); and

(b): the 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 liquidator; and
(c): the application may be so dealt with.

(6): If the liquidator receives a notice of objection within the period mentioned in subrule (4), the liquidator must serve a copy of the interlocutory process seeking the order on each creditor or contributory who has given a notice of objection.
(7): An affidavit in support of the interlocutory process seeking the order must—

(a): state the nature of the work carried out by the liquidator; and
(b): state the amount of remuneration claimed; and
(c): include a summary of the receipts taken and payments made by the liquidator for the period for which remuneration is claimed; and
(d): state particulars of any objection of which the liquidator has received notice; and
(e): if the winding-up is continuing—give details of any matters delaying the completion of the winding-up.

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