| Commentary

144 Initial decisions of creditors

| Commentary

2: STEPS TAKEN BY INSOLVENCY PRACTITIONER

144 Initial decisions of creditors

The trustee is entitled to remuneration for his services as office holder1.The basis of remuneration must be fixed either:

  1. 144.1

        as a percentage of the realisations (realised, distributed or both realised and distributed);

  2. 144.2

        on a time/costs basis;

  3. 144.3

        as a set amount; or

  4. 144.4

        a combination of the above2.

In a bankruptcy, he must seek an initial determination of the basis of his remuneration from the creditors' committee (if there is one), or, if there is no creditor's committee (or the committee fails to

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial