New South Wales Consolidated Regulations

SUPREME COURT (CORPORATIONS) RULES 1999 - REG 9.2

9.2 Determination by Court of remuneration of administrator (Corporations Act s 449E (1) (c) and (1A) (c))-Form 16

(1) This rule applies to an application by the administrator of a company under administration, or of a deed of company arrangement, for an order under paragraph 449E (1) (c) or (1A) (c) of the Corporations Act determining the administrator’s remuneration.

(2) At least 21 days before filing an originating process, or interlocutory process, seeking the order, the administrator must serve a notice in accordance with Form 16 of the administrator’s intention to apply for the order, and a copy of any affidavit on which the administrator intends to rely, on the following persons:

(a) each creditor who was present, in person or by proxy at any meeting of creditors,

(b) each member of any committee of creditors or committee of inspection,

(c) if there is no committee of creditors or committee of inspection, and no meeting of creditors has been convened and held, each of the 5 largest (measured by amount of debt) creditors of the company,

(d) each member of the company whose shareholding represents at least 10% of the issued capital of the company.

(3) Within 21 days after the last service of the documents mentioned in subrule (2), any creditor or contributory may give to the administrator a notice of objection to the remuneration claimed, stating the grounds of objection.

(4) If the administrator does not receive a notice of objection within the period mentioned in subrule (3):

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

(i) the date, or dates, when the notice and affidavit required to be served under subrule (2) were served, and

(ii) that the administrator has not received any notice of objection to the remuneration claimed within the period mentioned in subrule (3), and

(b) the administrator may endorse the originating process, or 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 administrator, and

(c) the application may be so dealt with.

(5) If the administrator receives a notice of objection within the period mentioned in subrule (3), the administrator must serve a copy of the originating process, or interlocutory process, seeking the order on each creditor or contributory who has given a notice of objection.

(6) An affidavit in support of the originating process, or interlocutory process, seeking the order must:

(a) include evidence of the matters mentioned in subsection 449E (4) of the Corporations Act, and

(b) state the nature of the work performed or likely to be performed by the administrator, and

(c) state the amount of remuneration claimed, and

(d) include a summary of the receipts taken and payments made by the administrator, and

(e) state particulars of any objection of which the administrator has received notice, and

(f) if the administration is continuing-give details of any matters delaying the completion of the administration.