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Philip Knight of Womble Bond Dickinson (UK) LLP looks at the recent Scottish case of The Provisional/Interim Liquidator of Equal Exchange Trading Limited which gives guidance in respect of the role of the court reporter when fixing the remuneration of a liquidator.
Lord Bannatyne has issued his opinion in respect of the note of The Provisional/Interim Liquidator of Equal Exchange Trading Limited  CSOH 35 which gives guidance in respect of the role of the court reporter when fixing the remuneration of a liquidator. The full opinion can be viewed here:
This case will be unwelcome news for insolvency practitioners in Scotland and would appear to give a wider remit to the court reporter than previously envisaged. As demonstrated in this case, even where the liquidator is ultimately awarded their remuneration, it opens up the prospect of a personal award of expenses against the liquidator despite there being no breach of any duty.
By way of background, where there is no liquidation committee, the task of auditing accounts and fixing the amount of the outlays and remuneration payable to the liquidator falls to the court. The court usua
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Anna joined the Restructuring and Insolvency team at Lexis®PSL in August 2013 from Berwin Leighton Paisner where she was a senior associate in the Restructuring Team.
Anna has worked on a number of large scale restructurings primarily in the UK market acting on behalf of lending institutions.
Recent transactions include the restructuring of a UK hotel chain and the administration sale of part of the Connaught group. Anna has also spent time on secondment at The Royal Bank of Scotland and trained at Clifford Chance qualifying in 2007.
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