Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulationsinsert
9.4A Review of remuneration of liquidator (Corporations Act, s 473 (5) and (6) and s 504 (1))
(1) This rule applies to an application for review of the amount of the remuneration of a liquidator under the Corporations Act, section 473 (5) or (6) or section 504 (1).
Note The amendment to the Corporations Act, s 504 made by the Corporations Amendment (Insolvency) Act 2007 (Cwlth) applies in relation to a liquidator appointed on or after 31 December 2007—see the Corporations Act, s 1480 (7).
(2) The application may only be made after remuneration has been determined under the Corporations Act, section 473 (3) (a) or (b) (i), or fixed under section 495 (1) or section 499 (3).
(3) At least 21 days before filing the originating process or interlocutory process applying for a review, the plaintiff or applicant must serve a notice 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 people:
(a) if there is a committee of inspection—each member of the committee;
(b) if the remuneration of the liquidator was determined or fixed by the creditors—each creditor who was present, in person or by proxy, at the meeting of creditors at which the remuneration was determined or fixed;
(c) each member of the company whose shareholding represents at least 10% of the issued capital of the company.
Note See approved form 16A (Notice of intention to apply for review of remuneration).
(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 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 the notice.
(7) The liquidator must file an affidavit stating the following matters:
(a) for an application under the Corporations Act, section 473 (5) or (6)—the matters mentioned in the Corporations Act, section 473 (10);
(b) for an application under the Corporations Act, section 504 (1)—the matters mentioned in the Corporations Act, section 504 (2);
(c) the nature of the work performed or likely to be performed by the liquidator;
(d) the amount of remuneration claimed by the liquidator if that amount is different from the amount of remuneration that has been determined or fixed;
(e) a summary of the receipts taken and payments made by the liquidator;
(f) particulars of any objection to the remuneration as determined or fixed of which the liquidator has received notice;
(g) if the winding up is continuing—details of any matters delaying the completion of the winding up.
(8) The affidavit under subrule (7) must annex a copy of the report that the liquidator was required to prepare before remuneration was determined or fixed.
Note For the requirement to prepare a report, see the Corporations Act, s 473 (11) and (12), s 495 (5), s 499 (6) and (7).
(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 the notice or notices.