Rule 1A.27 Challenges to monitor remuneration in subsequent insolvency proceedingsF1
An administrator or liquidator may apply to the court on the grounds that remuneration charged by the monitor in relation to a prior moratorium was excessive.
An application under paragraph (1) may not be made after the end of the period of 2 years beginning with the day after the day on which the moratorium ends.
On an application under paragraph (1) the court may—
dismiss the application,
order the monitor—
to repay some or all of the remuneration, and
to pay interest on that sum at the rate specified in paragraph (4) for the period beginning with the date on which the remuneration was paid to the monitor and ending with the date of repayment, or
make such other order as it sees fit.
The rate specified for the purpose of paragraph (3)(b)(ii) is the rate specified in section 17 of the Judgments Act 1838 on the date on which the remuneration was paid to the monitor.