Fixing of remuneration
77.—(1) The postal administrator is entitled to receive remuneration for their services as such.
(2) The basis of remuneration shall be fixed by reference to the time properly given by the insolvency practitioner (as postal administrator) and their staff in attending to matters arising in the postal administration.
(3) The postal administrator’s remuneration shall, on the postal administrator’s application, be fixed by the court.
(4) The postal administrator shall give at least 14 days notice of their application to the following who may appear or be represented—
(a)the Secretary of State;
(b)OFCOM; and
(c)the creditors of the company.
(5) In fixing the remuneration, the court shall have regard to the following matters—
(a)the complexity (or otherwise) of the case;
(b)any respects in which, in connection with the company’s affairs, there falls on the postal administrator any responsibility of an exceptional kind or degree;
(c)the effectiveness with which the postal administrator appears to be carrying out, or to have carried out, the postal administrator’s duties as such; and
(d)the value and nature of the property with which the postal administrator has had to deal.
(6) Where there are joint postal administrators, it is for them to agree between themselves as to how the remuneration payable should be apportioned. Any dispute arising between them may be referred to the court, for settlement by order.
(7) If the postal administrator is a solicitor and employs their own firm, or any partner in it, to act on behalf of the company, profit costs shall not be paid unless this is authorised by the court.