Article 138 - Creditors' claim that remuneration is excessive
Secured Creditor, or any unsecured creditor with the concurrence of at least 25 per cent in value of the creditors (including himself) or with the permission of the QFC Court, may, at any time before the officeholder's release but not thereafter, apply to the QFC Court for an order that the officeholder's remuneration be reduced, on the grounds that it is, in all the circumstances, excessive.
QFC Court may, if it thinks that no sufficient cause is shown for a reduction, dismiss the application; but it shall not do so unless the applicant has had an opportunity to attend the QFC Court for an ex parte hearing, of which he has been given at least seven days' notice.
(3) If the application is not dismissed under Article 138(2), the
QFC Court shall fix a venue for it to be heard, and give notice to the applicant accordingly.
(4) The applicant shall, at least 14 days before the hearing, send to the officeholder a notice stating the venue accompanied by a copy of the application, and any evidence which the applicant intends to adduce in support of it.
(5) If the
QFC Court considers the application to be well-founded, it shall make an order fixing the remuneration at a reduced amount or rate.
(6) Unless the
QFC Court orders otherwise, the costs of the application shall be paid by the applicant, and are not payable as an expense of the insolvency proceedings.