Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020 - IBBI/2020-21/GN/REG062 - Insolvency and Bankruptcy
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Liquidator fee entitlement clarified: fees accrue on amounts realised or on amounts distributed irrespective of who realised them. The amendment clarifies that a liquidator is entitled to a fee on amounts he realises even if he does not distribute them, and is entitled to a fee on amounts he distributes even if those amounts were not realised by him; it thereby ties fee entitlement to the distinct acts of realisation and distribution.
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.
Liquidator fee entitlement clarified: fees accrue on amounts realised or on amounts distributed irrespective of who realised them.
The amendment clarifies that a liquidator is entitled to a fee on amounts he realises even if he does not distribute them, and is entitled to a fee on amounts he distributes even if those amounts were not realised by him; it thereby ties fee entitlement to the distinct acts of realisation and distribution.
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