Prepare the remuneration approval report and creditor resolution
Key facts
- Human involvement
- YellowClose supervision
- How AI is used
- From the time records and the draft resolution, list the tasks, the cost of each, the method (time, quoted fixed fee, or a percentage of realisations), whether the fees are for work already done or future work, any cap, and the appointment type. Do not say the fees are reasonable and do not settle the resolution.
- What the lawyer must review
- Decide whether the fees are reasonable for necessary work properly performed, settle the report and the resolution, and check the voting rule that applies.
- Written for / version
- US
Open a jurisdiction version of this task to see which instruments apply: US
Who does what
| Role | What they do |
|---|---|
| Assistance | From the time records and the draft resolution, list the tasks, the cost of each, the method (time, quoted fixed fee, or a percentage of realisations), whether the fees are for work already done or future work, any cap, and the appointment type. Do not say the fees are reasonable and do not settle the resolution. |
| Lawyer | Set the scope, supervise the work closely, verify every part relied on, resolve omissions and exceptions, and approve the exact output. |
Checklist
- Put a cap on future fees that are charged on time.
- Use a separate resolution for voluntary-administration fees and deed-administration fees.
- Reject a general proxy held by the external administrator, a partner or staff on their own fee resolution.
- Give at least 15 business days for a proposal without a meeting, and lodge the outcome.
- Do not state the indexed default maximum in dollars. That figure was not opened.
Sources
These are suggested working checks. Confirm the required checking with the responsible lawyer before work starts; the checking approach does not establish permission to use AI.