Article 135 - Fixing of remuneration
(1) The officeholder is entitled to receive remuneration for his services as such.
(2) The remuneration shall be fixed at the first meeting of the
(A) as a percentage of the value of the property with which he has to deal; or
(B) by reference to the time properly given by the insolvency practitioner (as officeholder) and his staff in attending to matters arising in the insolvency proceedings; or
(C) as a set amount.
(3) It is for the
Creditors' Committee (if there is one) to determine whether the remuneration is to be fixed under Article 135(2)(A), (B) or (C) and, if under Article 135(2)(A), to determine any percentage to be applied as there mentioned.
(4) In arriving at that determination, the
Creditors' Committee shall have regard to the following matters:
(A) the complexity (or otherwise) of the case;
(B) any respects in which, in connection with the
Company's affairs, there falls on the officeholder any responsibility of an exceptional kind or degree;
(C) the effectiveness with which the officeholder appears to be carrying out, or to have carried out, his duties as such, and
(D) the value and nature of the property with which he has to deal.
(5) If no
Creditors' Committee is established by the first meeting of creditors, the officeholder's remuneration may be fixed (in accordance with Article 135(2)) by a resolution of that first meeting of creditors; and Article 135}(4) applies to them as it does to the Creditors' Committee.
(6) If not fixed as above, the officeholder's remuneration shall, on his application, be fixed by the