Fixing the fee of IRP - fee of an RP falls under the definition ...

Resolution Professional's Fee Not a 'Claim' u/s 3(6) of Insolvency and Bankruptcy Code; Liquidator Can't Verify.

August 3, 2022

Case Laws     Insolvency and Bankruptcy     AT

Fixing the fee of IRP - fee of an RP falls under the definition of a ‘Claim’ as defined under the Code or not - The word ‘expenses’ includes the fee to be paid to the Resolution Professional. Viewed from any angle, the fees of an RP cannot be considered to be a ‘Claim’ as defined under Section 3(6) of the Code. The Liquidator can only verify and adjudicate the ‘Claims’ as defined under the Code. Since the amount of fees payable to an RP is not a ‘Claim’, the same cannot be determined or verified by Liquidator. - AT

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