Office Holders’ Remuneration

It is not often that office holders’ remuneration comes before a court. For many sorts of office holder there are provisions for the remuneration to be agreed with a committee or the creditors generally. SIP 9 provides guidance on the information to be provided to such bodies. In the last resort application can be made to the court.

In the case of provisional liquidators, the remuneration must be fixed by the court and Insolvency Rule 4.30 sets out the matters to be taken into account. In three cases involving insolvent insurance companies (Independent, BAI and most recently UIC) an assessor was appointed to advise the court.

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