Remuneration may be fixed – (a) as a percentage of the value of the assets which are realised, but there shall in any event be taken into account (i) the work which, having regard to that value, was reasonably undertaken; and (ii) the extent of the responsibilities in administering those assets (b) The creditors at the first meeting of creditors may resolve, inter alia, unless a liquidation committee is to be established, the terms on which the liquidator is to be remunerated.
Priority The court may, in the event of the assets being insufficient to satisfy the liabilities, make an order as to the payment out of the assets, of the expenses incurred in the winding up in such order of priority as the court thinks just.