Today the New South Wales Court of Appeal delivered its much-anticipated judgment on liquidator remuneration in Re Sakr Nominees Pty Ltd (in liquidation)  NSWCA 38.
The unanimous (5-0) decision has confirmed that an ad valorem basis of fixing liquidator remuneration by simply applying a percentage rate without regard to the actual work which was required in the liquidation is inappropriate. The NSW Court of Appeal also rejected the notion of a different or separate approach to determining reasonable remuneration for ‘smaller liquidations’.
ARITA, with leave of the Court, appeared and made submissions as amicus curiae on issues of principle relevant to the appeal.
Read a detailed report and analysis of the NSW Court of Appeal's decision (members only).