Singapore legislation

Regulation 176

of Insolvency, Restructuring and Dissolution (Corporate Insolvency and Restructuring) Rules 2020

Regulation 176

Application to vary or review remuneration of liquidator in approved cost schedule

Where a cost schedule complying with rule 173(2) and (3) has been previously submitted to and approved by the approving body, any application to the Court under section 139(5) or (6) or 175 of the Act by a creditor or member of the company to vary the determination, or to review the approval, of the remuneration under the cost schedule must be supported by an affidavit —

(a)

exhibiting the cost schedule that was previously submitted to and approved by the approving body; and

(b)

stating —

(i)

whether there has been a material change in the circumstances in which the cost schedule was approved by the approving body; and

(ii)

if there has been such a material change, the nature and extent of the change.