A cap on an administrator's remuneration approved by creditors' resolution does not preclude the administrator from seeking review under s 449E(2) of the Corporations Act 2001 (Cth). An administrator seeking review of capped remuneration must demonstrate a need to inquire into the appropriateness of the original determination, but is not required to precisely allocate a dollar figure to each item of unanticipated work. Statements by an administrator about capping fees, made in the context of proposing resolutions to creditors, do not constitute clear and unambiguous representations sufficient to found an estoppel against invoking the statutory review jurisdiction.
The full text is available to signed-in members, including the 5 later cases that cite this judgment.