RE WING FAI CONSTRUCTION CO. LTD.

RE WING FAI CONSTRUCTION CO. LTD.

The application was dismissed as premature because the provisional liquidators sought interim payment before submitting bills for taxation; the appropriate remedy for any taxation delay is to seek expedition and the precedent relied upon was distinguishable.

Citation
RE WING FAI CONSTRUCTION CO. LTD.
Parties
Applicant: Provisional Liquidators; Company: Wing Fai Construction Company Limited; Service Provider: RSM Nelson Wheeler Corporate Services Limited
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
12 November 2002
Case Number
HCCW735/2002
Procedural Posture
Companies (winding Up) No. 735 of 2002 / Interim Payment Application in Chambers (decision on Summons)
Outcome
Application dismissed
Legal Topics
Interim Payment, Liquidators' Remuneration, Taxation of Costs, Provisional Liquidation
Source Language
EN
Company Law Insolvency Civil Procedure Interim Payment Liquidators' Remuneration Taxation of Costs Provisional Liquidation

Case Brief

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Parties

Provisional Liquidators

Applicant

Wing Fai Construction Company Limited

Company

RSM Nelson Wheeler Corporate Services Limited

Service Provider

Procedural Posture

Companies (winding Up) No. 735 of 2002 / Interim Payment Application in Chambers (decision on Summons)

Legal Issues

  1. 1 Whether interim payment should be ordered to provisional liquidators prior to taxation of their bills
  2. 2 Whether an undertaking to repay any shortfall justifies interim payment
  3. 3 Whether Re Peregrine Investment Holdings Limited authorises interim payments in these circumstances

Ratio Decidendi

The application was dismissed as premature because the provisional liquidators sought interim payment before submitting bills for taxation; the appropriate remedy for any taxation delay is to seek expedition and the precedent relied upon was distinguishable.

Court Disposition

Application dismissed

Orders

  • Application dismissed
  • No order as to costs