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Rule 4.128 Other matters affecting remunerationI1

England and Wales

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
F1(1)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

Where there are joint liquidators, it is for them to agree between themselves as to how the remuneration payable should be apportioned. Any dispute arising between them may be referred—

(a)

to the court, for settlement by order, or

(b)

to the liquidation committee or a meeting of creditors, for settlement by resolution.

(3)

If the liquidator is a solicitor and employs his own firm, or any partner in it, to act on behalf of the company, profit costs shall not be paid unless this is authorised by the liquidation committee, the creditors or the court.

Annotations

Textual amendments

F1

Rule 4.128(1) omitted (1.4.2004) by virtue of The Insolvency (Amendment) Rules 2004 (S.I. 2004/584), rules 1(2), 16 (with rule 3)

Commencement

I1

Rule 4.128 in force at 29.12.1986, see rule 0.1