Review of remuneration of liquidator (Corporations Act s 473 (5) and (6) and s 504 (1))
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 subsection 473 (5) or (6) or 504 (1) of the
Corporations Act.
(2) The application may only be made
after remuneration has been determined under paragraph 473 (3) (a) or
subparagraph 473 (3) (b) (i), or fixed under subsection 495 (1) or
subsection 499 (3), of the Corporations Act.
(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, 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
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.
(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 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 liquidator must file an affidavit stating the
following matters:
(a) for an application under subsection 473 (5) or (6) of
the Corporations Act--the matters mentioned in subsection 473 (10) of the
Corporations Act,
(b) for an application under subsection 504 (1) of the
Corporations Act--the matters mentioned in subsection 504 (2) of the
Corporations Act,
(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 the 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.