As liquidators we charge for our services at a scale of hourly rates. We do not charge lump sums.
Our fees will generally be paid from proceeds of sale of the assets of the insolvent party.
Guide to hourly rates of remuneration
|Partner||$480||Registered Liquidator/Trustee. Partner bringing his/her specialist skills to Administrations and/or Insolvency tasks.|
|Director||$410||10 years' experience. May be qualified to take appointments in own name or have specialist commercial abilities. Well developed technical skills.|
|Manager||$355||6 - 10 years' experience. May be qualified to take appointments in own name. Well developed technical and commercial skills.|
|Supervisor||$295||4 - 6 years' experience. Typically Qualified. Will have conduct of minor administrations and control junior staff.|
|Senior||$240||2 - 4 years' experience. Typically Graduate/Qualified. Assist in planning and control of small to medium sized jobs as well as performing some of the more difficult work on larger jobs.|
|Intermediate||$185||Up to 2 years' experience. Graduate with little or no professional experience.|
|Secretary||$150||Appropriate skills including machine usage.|
|Clerk||$110||Appropriate skills including machine usage.|
|Junior||$95||Appropriate skills including machine usage.|
|Typist||$90||Appropriate skills including machine usage.|
*The hourly rates are exclusive of GST.
The report by the Federal Government's Senate Enquiry shows details of examples of the scale of fees charged by small, medium and large insolvency firms in Sydney.
|Position||Small firms||Medium-sized firms||Large firms|
|Registered liquidator and partner||$460||$550||$690|
By reference to this table, the fees charged by Crouch Amirbeaggi are amongst the least expensive hourly rates, being typically one third less expensive than the large firms.
We don't for a second believe our services are cheap. Insolvency is a tough game and it takes a long time and a lot of work to get qualified which is reflected in the hourly rates. But comparatively, we believe our hourly rates are amongst the most competitive in the industry.
We invite you to inspect the files of the Supreme Court of NSW to access one of our larger jobs, Heritage Fine Wines Limited. The Court appointed us receiver and liquidator of this company. Some 3,000 investors spent about $100 million buying 1.3 million bottles of fine wine. Unfortunately the stock records were a shambles and it was impossible to reconcile certificates of ownership to the stock held in the hundred locations used by the company. We devised an equitable means to assign ownership of the wine which investors and the Supreme Court of NSW endorsed.
We consolidated the wine into cold storage (imagine four football fields of wine, five pallets high) and developed from scratch a nationwide distributions network which permitted investors to get the exact bottles they were entitled to.
The job was complex, time consuming and very expensive. Several million dollars in fees were incurred, but the average charge out rate was approximately $200 per hour. So we believe that we have a good record of delivering value for money hourly rates, and average charge out rates for the entire administration.