Since in most bankruptcies and compulsory liquidations you will not achieve a 100% recovery of time costs when you are being remunerated on a time cost basis you will have a first charge any subsequent realisations made. Whilst in the vast majority of cases there will be no additional realisations by the OR acting as trustee or liquidator ex officio, just occasionally there will. To ensure that creditors are aware as to what happens in such situations, i.e. to ensure that you are being transparent, we would suggest that you include a standard phrase in your final reports to make it clear that if there are any further realisations then your outstanding remuneration would be paid first.
To help make sure that the OR does not overlook you should further realisations be made then you should also consider making reference to your outstanding remuneration in your letter accompanying the notice of the final meeting that you send to the OR.
