24 May 2011 – Official Receiver’s Costs in Release Application where Private Liquidators are Appointed as the Liquidator
Presently, since 2002, in cases where a private liquidator is appointed by the Court on the application of an applicant-creditor in a compulsory winding-up, the costs of the Official Receiver sought at the conclusion of the liquidation range from $150- $400. The amount sought and awarded by the Court would depend on the complexity of each individual case. The costs sought by the Official Receiver has not been reviewed since 2002.
Following a thorough review carried out by the Official Receiver of the practice and costs sought in cases involving the appointment of private liquidators in cases of compulsory winding up between late 2010 to mid 2011, to ensure that the resources of the Official Receiver (as a public agency) were being utilised in an efficient and cost-effective manner, the Official Receiver will revise the rates with effect from 1 Jul 2011. For simple cases, the range has been revised from $150- $400 to $600. Where cases are complex or have resulted in significant amounts of time and work carried out by the Official Receiver notwithstanding the appointment of a private liquidator, the amount of the costs sought by the Official receiver will start at $600.
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