Rely on the most comprehensive, up-to-date legal content designed and curated by lawyers for lawyers
Work faster and smarter to improve your drafting productivity without increasing risk
Accelerate the creation and use of high quality and trusted legal documents and forms
Streamline how you manage your legal business with proven tools and processes
Manage risk and compliance in your organisation to reduce your risk profile
Stay up to date and informed with insights from our trusted experts, news and information sources
Access the best content in the industry, effortlessly — confident that your news is trustworthy and up to date.
With over 30 practice areas, we have all bases covered. Find out how we can help
Our trusted tax intelligence solutions, highly-regarded exam training and education materials help guide and tutor Tax professionals
Regulatory, business information and analytics solutions that help professionals make better decisions
A leading provider of software platforms for professional services firms
In-depth analysis, commentary and practical information to help you protect your business
LexisNexis Blogs shed light on topics affecting the legal profession and the issues you're facing
Legal professionals trust us to help navigate change. Find out how we help ensure they exceed expectations
Lex Chat is a LexisNexis current affairs podcast sharing insights on topics for the legal profession
Discuss the latest legal developments, ask questions, and share best practice with other LexisPSL subscribers
How will the courts assess remuneration costs for administrators? Frances Coulson of Moon Beever considers the Companies Court’s decision in RE Brilliant Independent Media Specialists Ltd.
Re Brilliant Independent Media Specialists Ltd  Lexis Citation 201,  All ER (D) 111 (Oct)
The Chancery Division, Companies Court, considered an application by the former joint administrators of Brilliant Independent Media Specialists Ltd (In Liquidation) (the company) for the court to fix their remuneration pursuant to the Insolvency Rules 1986, SI 1986/1925, rr 2.106 and 2.108. Taking into account the outcome of the administration and the benefit achieved the court held that £233,147.25 was a fair, reasonable and proportionate sum.
In short, the issues were:
Whether and, if so, to what extent can the administrators receive remuneration for work carried out if the creditors’ committee always made clear that the company was to move into liquidation as soon as practicable and that investigatory work in particular was to be carried out by the liquidators?
Whether remuneration should be fixed for work which:
Whether remuneration can be fixed for work during the period after cessation of the administrators’ appointment on 12 August 2012 when the company had been placed into creditors’ voluntary liquidation and the liquidators requested those services.
Whether the joint administrators could justify the remuneration claimed applying the Insolvency Rules 1986, r 2.106 and the Practice Direction: Insolvency Proceedings  BCC 265 (the PD), including the costs incurred in respect of the application.
The administrators relied on the
Access this article and thousands of others like it free by subscribing to our blog.
Read full article
Already a subscriber? Login
0330 161 1234