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A Creditor's Guide to Administrators Fees

12. Other matters relating to remuneration

12.1 Where there are joint administrators it is for them to agree between themselves how the remuneration payable should be apportioned. Any dispute arising between them may be referred to the court, the creditors’ committee or a meeting of creditors.

12.2 If the administrator is a solicitor and employs his own firm to act on behalf of the company, profit costs may not be paid unless authorised by the creditors’ committee, the creditors or the court.

12.3 If a new administrator is appointed in place of another, any determination, resolution or court order which was in effect immediately before the replacement continues to have effect in relation to the remuneration of the new administrator until a further determination, resolution or court order is made.

12.4 Where the basis of the remuneration is a set amount, and the administrator ceases to act before the time has elapsed or the work has been completed for which the amount was set, application may be made for a determination of the amount that should be paid to the outgoing administrator. The application must be made to the same body as approved the remuneration. Where the outgoing administrator and the incoming administrator are from the same firm, they will usually agree the apportionment between them.

1. Introduction
2. The Nature of Administration
3. The Creditors’ Committee
4. Fixing the Administrator’s Remuneration
5. Review of Remuneration
6. Approval of Pre-Administration Costs
7. What Information should be provided by the Administrator?
8. Progress Reports and Requests for Further Information
9. Provision of Information - Additional Requirements
10. What if a Creditor is Dissatisfied?
11. What if the Administrator is Dissatisfied?
12. Other Matters Relating to Remuneration
13. Effective Date

Remuneration of insolvency office holders in England and Wales.

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