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A Creditor's Guide to Liquidators' Fees

8. Provision of information – additional requirements

The liquidator must provide certain information about the time spent on the case, free of charge, upon request by any creditor, director or shareholder of the company.

The information which must be provided is –

• the total number of hours spent on the case by the liquidator or staff assigned to the case;
• for each grade of staff, the average hourly rate at which they are charged out;
• the number of hours spent by each grade of staff in the relevant period.

The period for which the information must be provided is the period from appointment to the end of the most recent period of six months reckoned from the date of the liquidator’s appointment, or where he has vacated office, the date that he vacated office.

The information must be provided within 28 days of receipt of the request by the liquidator, and requests must be made within two years from vacation of office.

1. Introduction
2. Liquidation Procedure
3. The Liquidation Committee
4. Fixing the Liquidator’s Remuneration
5. Review of Remuneration
6. What information should be provided by the Liquidator?
7. Progress reports and requests for further Information
8. Provision of information - additional requirements
9. What if a creditor is dissatisfied?
10. What if the liquidator is dissatisfied?
11. Other matters relating to remuneration
12. Effective date

Remuneration of insolvency office holders in England and Wales.

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