Australian Securities and Investments Commission v Marco (No 12) [2022] FCA 1248

Australian Securities and Investments Commission v Marco (No 12) [2022] FCA 1248

Because the application was substantially the same as earlier remuneration applications, the Sixth Remuneration Report and Mr Brauer's affidavit addressed the nature, need and complexity of the work, the report stated that the remuneration was for necessary work properly performed, the report was prepared to applicable professional standards, there was no opposition, and the same safeguards and mechanisms used in earlier orders would apply, the Court approved interim payment of 85% of the Receivers' claimed remuneration and ordered that a Registrar review and fix the remuneration.

Jurisdiction
Australia
Judgment Date
19 October 2022
Procedural Posture
Interlocutory Application by Court Appointed Receivers for Fixing Remuneration and Interim Payment of Remuneration / Determined on the Papers
Outcome
Application granted; orders made in terms of the Receivers' interlocutory application of 4 August 2022.
Legal Topics
["receivers' Remuneration" 'interim Payment of Remuneration' 'determination on the Papers' 'registrar Fixing Remuneration']
['corporations' 'corporate Insolvency'] ["receivers' Remuneration" 'interim Payment of Remuneration' 'determination on the Papers' 'registrar Fixing Remuneration']

Case Brief

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Procedural Posture

Interlocutory Application by Court Appointed Receivers for Fixing Remuneration and Interim Payment of Remuneration / Determined on the Papers

Legal Issues

  1. 1 ["Whether a Registrar of the Court should review and fix the Receivers' remuneration for the period from 5 March to 3 June 2022." "Whether interim payment of 85% of the Receivers' claimed remuneration for that period should be approved subject to safeguards." 'Whether the application should be determined without an oral hearing.']

Ratio Decidendi

Because the application was substantially the same as earlier remuneration applications, the Sixth Remuneration Report and Mr Brauer's affidavit addressed the nature, need and complexity of the work, the report stated that the remuneration was for necessary work properly performed, the report was prepared to applicable professional standards, there was no opposition, and the same safeguards and mechanisms used in earlier orders would apply, the Court approved interim payment of 85% of the Receivers' claimed remuneration and ordered that a Registrar review and fix the remuneration.

Court Disposition

Application granted; orders made in terms of the Receivers' interlocutory application of 4 August 2022.

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 March to 3 June 2022 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 copies of...