Award of Attorneys' and Receivers' Fees; How Determined

  1. Law
  2. Georgia Code
  3. Civil Practice
  4. Receivers
  5. Award of Attorneys' and Receivers' Fees; How Determined

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  1. In all cases where a receiver is appointed under the laws of this state to take charge of the assets of any person, firm, or corporation and a fund is brought into court for distribution, the court having jurisdiction thereof shall award to counsel filing the petition and representing the moving creditor or creditors, out of the fund, no greater sum as fees for services rendered in filing the petition and bringing the fund into court than the services are actually worth, taking as a basis therefor the amount represented by the counsel in the original petition and the assets brought into the hands of the receiver by the services of counsel not including the assets turned over to the receiver by defendants under order of the court.
  2. In all cases where a receiver is appointed to take charge of the assets of any person, firm, or corporation, the court having jurisdiction thereof shall award to the receiver as full compensation for his services, out of the fund coming into his hands, not more than 8 percent of the first $1,000.00, 4 percent of the excess up to $5,000.00, 3 percent of the amount above $5,000.00 and not exceeding $10,000.00, and 2 percent of all sums over $10,000.00. Where the business of an insolvent person, firm, or corporation is continued and conducted by a receiver, the judge may allow such compensation as may be reasonable for such services in lieu of commissions, not exceeding the compensation paid by persons in the usual and regular conduct of such business.
  3. In all cases, the presiding judge or other competent tribunal shall allow such compensation to the attorney or attorneys filing the original petition and to the receiver or receivers appointed thereunder as their services are reasonably worth.

(Ga. L. 1897, p. 55, §§ 1, 2; Ga. L. 1898, p. 86, §§ 1, 2; Civil Code 1910, §§ 5488, 5489; Code 1933, §§ 55-314, 55-315.)

RESEARCH REFERENCES

Am. Jur. 2d.

- 66 Am. Jur. 2d, Receivers, § 212 et seq.

C.J.S.

- 75 C.J.S., Receivers, § 468 et seq.

ALR.

- Priority of receiver's compensation over expenses, taxes, or receiver's certificates, 24 A.L.R. 1174.

Right of invalidly appointed receiver to compensation as such, 34 A.L.R. 1356.

Liability of one procuring appointment of receiver for expenses of receivership, 68 A.L.R. 878.

Attorneys' fees or other expenses incurred in unsuccessfully resisting appointment or attempting removal of receiver for corporation as proper claim against receiver, 89 A.L.R. 1531.

Power, after institution of bankruptcy proceedings, of court in which receivership or assignment proceedings have previously been begun, to allow or pay fees or other compensation or expenses connected therewith, 90 A.L.R. 1217.

Priority as between receiver's fees and wages earned during receivership, 128 A.L.R. 385.

Costs and other expenses incurred by fiduciary whose appointment was improper as chargeable against estate, 4 A.L.R.2d 160.

Reimbursement of expenses, other than for professional services, to official creditors' committees, or members thereof, in Chapter 11 bankruptcy proceedings, under Bankruptcy Reform Act of 1978 (11 USCS §§ 101 et seq.), 109 A.L.R. Fed. 842.


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