Australian Securities and Investments Commission v Marco (No 10) [2021] FCA 1342

Australian Securities and Investments Commission v Marco (No 10) [2021] FCA 1342

Because the third remuneration report had received the same safeguards as the reports in Marco (No 7) and Marco (No 8), and for the reasons previously expressed in those judgments, the Court made similar orders for the Receivers' remuneration for the period 5 June 2021 to 3 September 2021, including interim payment of 85% of the claimed amount subject to refund and review safeguards.

Jurisdiction
Australia
Judgment Date
29 October 2021
Procedural Posture
Application by Court Appointed Receivers for Interim Payment of Remuneration Pending Determination by a Registrar / Determined on the Papers
Outcome
Orders made for Registrar review and fixing of the Receivers' remuneration and for interim payment of 85% of the claimed remuneration subject to safeguards.
Legal Topics
["receivers' Remuneration" 'interim Payment of Remuneration' 'registrar Review and Fixing of Remuneration' 'safeguards for Interim Remuneration']
['corporations' 'corporate Insolvency'] ["receivers' Remuneration" 'interim Payment of Remuneration' 'registrar Review and Fixing of Remuneration' 'safeguards for Interim Remuneration']

Case Brief

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Procedural Posture

Application by Court Appointed Receivers for Interim Payment of Remuneration Pending Determination by a Registrar / Determined on the Papers

Legal Issues

  1. 1 ['Whether a Registrar of the Court should review and fix the remuneration to which the Receivers are properly entitled for the period from 5 June 2021 to 3 September 2021.' "Whether 85% of the Receivers' claimed remuneration of $87,379.05 inclusive of GST should be approved for payment on an interim basis subject to safeguards."]

Ratio Decidendi

Because the third remuneration report had received the same safeguards as the reports in Marco (No 7) and Marco (No 8), and for the reasons previously expressed in those judgments, the Court made similar orders for the Receivers' remuneration for the period 5 June 2021 to 3 September 2021, including interim payment of 85% of the claimed amount subject to refund and review safeguards.

Court Disposition

Orders made for Registrar review and fixing of the Receivers' remuneration and for interim payment of 85% of the claimed remuneration subject to safeguards.

Orders

  • ['A Registrar of the Court is to review and fix the remuneration to which the Receivers are properly entitled for the period from 5 June 2021 to 3 September 2021 under orders 5, 6, 7 and 10 made in this proceeding on 7 December 2020.' 'The Registrar will advise the Receivers if further information is required, and...