In Brief
In the Matter of CB Constructions (NSW) Pty Ltd [2014]
NSWSC 913 is a recent decision of Justice Black which provides a
reminder of the matters which need to be addressed when seeking
court approval for the remuneration of a provisional liquidator
under section 473(2) of the Corporations Act 2001 (Cth), and also
the fact that such applications will not be successful as a matter
of course.
Section 473(2) provides "A provisional liquidator is
entitled to receive such remuneration by way of percentage or
otherwise as is determined by the Court."
Background
The provisional liquidator of CB Constructions (NSW) Pty Ltd was
appointed provisional liquidator on 4 May 2009 and then liquidator
on 25 May 2009. He had not obtained an order for approval of his
remuneration at the time of either of his appointments. He sought
an order in respect of his remuneration for the period that he was
appointed provisionally at a later date.
