Rule 130 Appeal against fixing of remunerationI1
Scotland
If the administrator considers that the remuneration or outlays fixed for the administrator under rule 129 by—
the creditors’ committee, or
by resolution of the creditors and customers, or as the case may be, of the customers,
is insufficient, the administrator may apply to the court for an order increasing this amount or rate.
The administrator must give at least fourteen days’ notice of the application to the members of the creditors’ committee, and the committee may nominate one or more members to appear, or be represented, and to be heard, on the application.
If there is no creditors’ committee, the notice of the application must be sent to such one or more of the institution’s creditors or customers as the court may direct, which creditors or customers may nominate one or more of their number to appear or be represented and heard on the application.
Notice of the application must also be given to the FCA.
The court may order the expenses of the administrator’s application, including the expenses of any member of the creditors’ committee appearing or being represented on it, or any creditor or customer so appearing or being represented, to be paid as an expense of the special administration.
Annotations
Commencement
- I1
Rule 130 in force at 19.12.2022, see rule 2