Minimum fixed fee for insolvency professionals sets monthly minima and performance incentives upon plan approval. Minimum monthly fees are prescribed for interim resolution professionals and resolution professionals according to admitted claims bands, payable from appointment until submission of a resolution plan application, liquidation application, withdrawal application, or closure order. Performance-linked incentives include a time-based percentage of the realisable value for plans filed within specified periods from the insolvency commencement date, and a one percent incentive on the excess of realisable value over liquidation value, both payable after plan approval and commencement of payments to creditors.
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Provisions expressly mentioned in the judgment/order text.
Minimum fixed fee for insolvency professionals sets monthly minima and performance incentives upon plan approval.
Minimum monthly fees are prescribed for interim resolution professionals and resolution professionals according to admitted claims bands, payable from appointment until submission of a resolution plan application, liquidation application, withdrawal application, or closure order. Performance-linked incentives include a time-based percentage of the realisable value for plans filed within specified periods from the insolvency commencement date, and a one percent incentive on the excess of realisable value over liquidation value, both payable after plan approval and commencement of payments to creditors.
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