In the matter of JSMOT Pty Limited [2020] NSWSC 549

In the matter of JSMOT Pty Limited [2020] NSWSC 549

The Court approved receiver remuneration as claimed because the amounts sought were reasonable and proportionate to the complexity of the receivership, the value of trust assets, and the work undertaken. The application was supported by evidence and not opposed by beneficiaries; the principles for Court approval of receiver remuneration were satisfied.

Jurisdiction
Australia
Judgment Date
04 May 2020
Procedural Posture
Corporations – External Administration / Application to Approve Remuneration of Court Appointed Receiver
Outcome
Application for approval of remuneration granted
Legal Topics
['remuneration of Receivers' 'court Approval of Receiver Remuneration' 'time Charged Basis' 'reasonableness of Remuneration']
['corporations Law' 'equity'] ['remuneration of Receivers' 'court Approval of Receiver Remuneration' 'time Charged Basis' 'reasonableness of Remuneration']

Case Brief

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Procedural Posture

Corporations – External Administration / Application to Approve Remuneration of Court Appointed Receiver

Legal Issues

  1. 1 ['Is the amount of remuneration claimed by the receiver reasonable?' 'Should the remuneration be calculated on a time-charged basis?' 'Are the claimed tasks and work proportionate and justified given the complexity, period, and value of trust assets?']

Ratio Decidendi

The Court approved receiver remuneration as claimed because the amounts sought were reasonable and proportionate to the complexity of the receivership, the value of trust assets, and the work undertaken. The application was supported by evidence and not opposed by beneficiaries; the principles for Court approval of receiver remuneration were satisfied.

Court Disposition

Application for approval of remuneration granted

Orders

  • ['Order that remuneration for the period 20 November 2017 to 25 January 2018 is approved and fixed at $52,738 exclusive of GST.' 'Order that remuneration for the period 31 January 2018 to 29 November 2019 is approved and fixed at $162,847 exclusive of GST.' 'Order that remuneration for the period 30 November 2019 to...