Bankruptcy and Insolvency Act

Marginal note:Orders respecting fees and expenses

• 47.2 (1) If an appointment of an interim receiver is made under section 47 or 47.1, the court may make any order respecting the payment of fees and disbursements of the interim receiver that it considers proper, including an order giving the interim receiver security, ranking ahead of any or all secured creditors, over any or all of the assets of the debtor in respect of the interim receiver’s claim for fees or disbursements, but the court shall not make such an order unless it is satisfied that all secured creditors who would be materially affected by the order were given reasonable advance notification and an opportunity to make representations to the court.

• Marginal note:Meaning of disbursements

  (2) In subsection (1), “disbursements” do not include payments made in operating a business of the debtor.

• Marginal note:Accounts, discharge of interim receivers

  (3) With respect to interim receivers appointed under section 46, 47 or 47.1,

  • (a) the form and content of their accounts, including their final statement of receipts and disbursements,

  • (b) the procedure for the preparation and taxation of those accounts, and

  • (c) the procedure for the discharge of the interim receiver

  shall be as prescribed.