Tuesday, August 16, 2005

A common error on old PRU cases

Just little warning for those of you who are administering old PRU cases. On orders made before the 1986 Act commenced, or on orders made after it commenced on petitions presented before it commenced, the old act remuneration authorisation provisions apply.

This means that you must have your remuneration authorised by the secretary of state, not just by a resolution from the creditors' committee or even the creditors in general meeting. If you have any old PRU cases with 1986/7 order dates, it is worth checking the petition date, just to be sure.