The liquidator of a company is entitled to a remuneration

Reference no: EM13379397

The liquidator of a company is entitled to a remuneration of 3% on the amounts realized (excluding cash in hand) and 2% on the amount distributed to the unsecured creditors, including preferential creditors of $25,000 amounting to $2,00,000.

Debenture holders were paid $2,59,375 together with interest preferential creditors were pain in full. Expenses of liquidation came to $2,550.

Cash on hand was $5,000, and assets realized $3,95,000. Calculate the liquidator's remuneration.

Reference no: EM13379397

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