In Jindal Transworld PVT Ltd v Scottsdale Homes No. 10 Pty
Ltd (No 2) [2010] SASC 210 (13 July 2010), a liquidator sought
an order that his remuneration be fixed under s473(3) of the
Corporations Act 2001. It was opposed by the company's
only creditor on the basis of entitlement and quantum, and that the
application was not competent because s473(3)(a) was not satisfied.
That section prescribes that a liquidator's remuneration can be
determined, if there is a committee of inspection
("COI"), by agreement between the
liquidator and the COI. The creditor argued s473(3)(a) was a
condition precedent to any court application.
Formation of a Committee of Inspection
The COI was formed by a resolution of creditors. The issue was
whether a resolution of creditors was sufficient to validly form a
COI. Section 548 states that a liquidator must, if requested,
"convene separate meetings of the creditors and
contributories" to determine whether a COI should be formed.
No
