In this “special edition” of Restructuring Roundup, we have drawn together a number of recent cases that you might have missed, where the court has had to consider officeholder remuneration.
These cases provide practical insight for officeholders when preparing remuneration applications, which insolvency rules apply and when, and what the court and officeholders can do with the following key takeaways:
Carefully consider who the creditors are when seeking fee approval.
Provide the court with sufficient information to make a decision when making an application to court seeking to fix the basis or quantum of remuneration.
Officeholders do not need to be in office to make an application under Part 18 of the Insolvency Rules.
Accept risk when fixing fees on a percentage basis.
Do not seek to limit liability.
If you would like specific advice on any of these issues or anything else, please contact a member of our UK Restructuring & Insolvency team.
