Review of remuneration of administrator (Corporations Act s 449E (2))
9.2A Review of remuneration of administrator (Corporations Act s 449E (2))
(1) This rule applies to an application for review of the amount of the
remuneration of an administrator under subsection 449E (2) of the
Corporations Act.
(2) The application may be made only
after the remuneration has been determined under paragraph 449E (1) (a) or (b)
or paragraphs 449E (1A) (a) or (b) of the Corporations Act.
(3) At least 21
days before filing the originating process or the interlocutory process
applying for a review, the plaintiff or applicant must serve a notice, in
accordance with Form 16A, 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 persons:
(a) if there
is a committee of creditors or a committee of inspection--each member of the
committee,
(b) if the remuneration of the administrator was determined by the
creditors--each creditor who was present, in person or by proxy, at the
meeting of creditors at which the remuneration was determined,
(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 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 applicant for review, and
(b) setting out the issues that the person seeks to raise before the Court.
(5) A person mentioned in 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).
(7) The administrator must file an
affidavit stating the following matters:
(a) the matters mentioned in
subsection 449E (4) of the Corporations Act,
(b) the nature of the work
performed or likely to be performed by the administrator,
(c) the amount of
remuneration claimed by the administrator if that amount is different from the
amount of remuneration that has been determined,
(d) a summary of the
receipts taken and payments made by the administrator,
(e) particulars of any
objection to the remuneration as determined, of which the administrator has
received notice,
(f) if the administration is continuing--details of any
matters delaying the completion of the administration.
(8) The affidavit
mentioned in subrule (7) must annex a copy of the report that the
administrator was required to prepare before remuneration was determined.
