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Liquidators' remuneration and expenses - value-based remuneration and closer scrutiny of expenses

On 25 July 2014 and 17 September 2014 respectively, Justice Brereton of the Supreme Court of NSW delivered two related judgments in Re AAA Financial Intelligence Ltd (in liquidation) andRe AAA Financial Intelligence Ltd (in liquidation) (No 2). The decisions deal with the evergreen topic of Liquidator remuneration and expenses.

Importantly, in fixing the Liquidators' remuneration, Justice Brereton adopted a "value" focussed approach, and discussed the relevance of considering matters beyond simply time spent multiplied by fixed hourly rates. 

Australia, United Kingdom, New South Wales, Insolvency & Restructuring, Litigation, Baker McKenzie, New South Wales Supreme Court
Time extensions for voidable transaction proceedings, and the commissioner for taxation

The importance of notifications to potential defendants and directors of the insolvent company

The decision in Re Octaviar Administration Pty Ltd (in liq) [2013] NSWSC 786 highlights two key issues for insolvency practitioners:

Australia, New South Wales, Insolvency & Restructuring, Litigation, Baker McKenzie, Liquidation