Companies Act 2014 section 648

Supplemental provisions in relation to sections 646 and 647

Section 648 provides supplemental rules supporting the liquidator remuneration framework established by sections 646 and 647, including the right to refer disputes to arbitration, the right of creditors or members to seek court review, the allocation of costs on such reviews, and the criteria to be considered when fixing or reviewing remuneration.

• Disputes over the amount of a liquidator's remuneration may be referred to arbitration, either as part of the original remuneration terms or by subsequent agreement between the liquidator and the relevant creditors or members
• Any creditor or member may apply to court within 28 days to review the terms of a liquidator's remuneration entitlement or the actual amount of remuneration agreed or approved; the court may confirm or alter either
• If the court does not reduce the liquidator's remuneration or worsen the terms, the applicant bears the costs; if the court does reduce them, the court decides who pays the costs
• When fixing or reviewing remuneration, five factors must be considered: time required, complexity of the case, any exceptional responsibilities, the effectiveness of the liquidator, and the value and nature of the property dealt with

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