Official Liquidator fees credited to Central Government under prescribed sliding scales with court power to adjust and reduce. Fees payable from company assets in winding-up are prescribed for the Official Liquidator and must be credited to the Central Government. The Court may order reasonable fees for a Provisional Liquidator. In court windings-up, a sliding scale applies to annual realisations and half that scale to distributions to contributories and creditors; the same scale governs collections for debenture holders and a distinct higher scale applies for realisations for other secured creditors. The Court may allow trustee fees up to the main scale, fix fees for special duties or creditors' voluntary windings-up, fix fees for additional liquidators, and reduce fees where reconstruction or excessiveness warrants.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Official Liquidator fees credited to Central Government under prescribed sliding scales with court power to adjust and reduce.
Fees payable from company assets in winding-up are prescribed for the Official Liquidator and must be credited to the Central Government. The Court may order reasonable fees for a Provisional Liquidator. In court windings-up, a sliding scale applies to annual realisations and half that scale to distributions to contributories and creditors; the same scale governs collections for debenture holders and a distinct higher scale applies for realisations for other secured creditors. The Court may allow trustee fees up to the main scale, fix fees for special duties or creditors' voluntary windings-up, fix fees for additional liquidators, and reduce fees where reconstruction or excessiveness warrants.
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