Fee of resolution professional payable by corporate debtor when initiation fails, secured through a separate committee funded account. Fee liability of the resolution professional is borne by the corporate debtor where the debtor fails to file or the initiation application is rejected; the corporate debtor must maintain a separate bank account, funded as advised by the committee, which the resolution professional shall operate to meet his fee and expenses, subject to the specified limitation in the definition clause.
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Provisions expressly mentioned in the judgment/order text.
Fee of resolution professional payable by corporate debtor when initiation fails, secured through a separate committee funded account.
Fee liability of the resolution professional is borne by the corporate debtor where the debtor fails to file or the initiation application is rejected; the corporate debtor must maintain a separate bank account, funded as advised by the committee, which the resolution professional shall operate to meet his fee and expenses, subject to the specified limitation in the definition clause.
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