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Liquidators remuneration
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.
Replies (3)
As Liquidator remuneration would be calculate on amount realised.
I.e.3000000
Liquidator Remuneration=3000000*5/100
=1,50,000
Typo error
300000*5/100
=15000
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!!!!!
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