Exceeding the fees estimate4.131AB

1

The liquidator’s remuneration must not exceed the total amount set out in the fees estimate without approval.

2

The request for approval must be made—

a

where the liquidation committee fixed the basis, to the committee;

b

where the creditors fixed the basis, to the creditors;

c

where the court fixed the basis, by application to the court;

and Rules 4.127 to 4.131 apply as appropriate.

3

The request for approval must specify—

a

the reasons why the liquidator has exceeded, or is likely to exceed, the fees estimate;

b

the additional work the liquidator has undertaken or proposes to undertake;

c

the hourly rate or rates the liquidator proposes to charge for each part of that additional work;

d

the time that additional work has taken or the liquidator anticipates that work will take;

e

whether the liquidator anticipates that it will be necessary to seek further approval; and

f

the reasons it will be necessary to seek further approval.