Remuneration of trustee – amount claimed exhausting assets realised. The court approved and applied the Practice Statement 2004. David Richards J said: ‘The task for the court is to arrive at a level of remuneration which balances the various criteria of the value of the service rendered, the proportionality of remuneration and a fair and reasonable remuneration for the work properly undertaken, as these criteria are explained in the Practice Statement. The result must resolve the conflict which may in a particular case exist between these criteria. The conflict is likely to be the more acute in cases such as the present, where substantial costs have been incurred in relation to a relatively small estate.’
Judges:
David Richards J
Citations:
[2007] EWHC 511 (Ch), [2007] BPIR 412
Links:
Jurisdiction:
England and Wales
Cited by:
Cited – Brook v Reed CA 25-Mar-2011
The court was asked ‘What relation should the costs and remuneration bear to the circumstances, and in particular the size, of the bankruptcy?’ The bankrupt had considered that the costs first awarded to the trustee in bankruptcy and the trustee’s . .
Lists of cited by and citing cases may be incomplete.
Insolvency, Costs
Updated: 10 July 2022; Ref: scu.250025