if there is any mortgage related to asset realised then how shall we calculate liquidators remuneration?
eg : asset realised ( land and buildings ) = 300000
mortgage on land and buildings = 100000.
remuneration is 5 % on all assets realised.
Since there is a mortgage.while preparing liquidators final statement it is prescribed to mention the surplus for the asset realised .then y dont his remuneration be calculated on surplus?
Point of clarification: whether lliquidator realises and pay to creditor or creditor realises and pay remaining to liquidator?
I have a doubt in this regard!!!!!
CAclubindia
