Section 109Part 5 — Company Restructuring and Winding UpAmended
Remuneration of official liquidators and restructuring officers
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Amended by LG72/S3
The expenses properly incurred in the winding up, including the remuneration of the li quidator, are , subject to subsection
, payable out of the company ’ s assets in priority to all other claims. ( 2 ) Where a company is wound up, the expenses properly incurred in any petition for a restructuring officer and during the term of appointment o f the restructuring officer appointed — (a) under section 91B
; or
on an interim basis under section 91C(3), including the remuneration of the restructuring officer, are payable out of the company’s assets in priority to all other claims. (3) There shall be paid to a restructuring officer, including a restructuring officer appointed on an interim basis, and the official liquidator, such remuneration, by way of percentage or otherwise, that the Court may direct acting in accordance with rules ma de under section 155.
If more than one restructuring officer, including a restructuring officer appointed on an interim basis, is appointed by the Court under section 91B or 91C, the remuneration paid under subsection (3) shall be distributed among th e restructuring officers in such proportions as the Court may direct.
If more than one official liquidator is appointed by the Court when a company is wound up, the remuneration paid under subsection (3) shall be distributed among the official liquida tors in such proportions as the Court may direct.