Introduction to AiB 4 - Creditor's Guide - Page 9

PUBLIC FUNDING AND THE COSTS OF THE INTERIM AND PERMANENT TRUSTEES

If the Accountant in Bankruptcy is appointed as interim and permanent trustee, who pays for her services and the other costs of the sequestration?

If there are funds in the debtor's estate, they will be used to cover these costs. If there are not enough funds to cover all the costs, the shortfall will be met from public funds.

When an insolvency practitioner is interim or permanent trustee, who pays for his services and other costs in administering the sequestration?

If there are funds in the debtor's estate, these will be used to cover the costs. If there are not enough funds in the debtor's estate to cover all of the costs, the balance must be borne by the insolvency practitioner himself unless a third party has agreed to meet any shortfall.