17 Mar 2014
RE PERFORMANCE INVESTMENT PRODUCTS CORPORATION LTD
- Citation
- RE PERFORMANCE INVESTMENT PRODUCTS CORPORATION LTD
- Court
- Court of First Instance
- Case number
- HCCW348/2007
The court held the Subject Funds are trust assets, tracing individual entitlements is impracticable, and the Berkeley Applegate principle applies: the Joint Liquidators are entitled to have their reasonable fees and disbursements assessed and paid out of the Subject Funds. The Philippines injunction is not binding or enforceable in Hong Kong and the Liquidator is directed not to comply. The proposed cross-border protocol with the BVI is approved. Taxation of fees shall be undertaken by a taxing master applying a prudence/relevance test and allowing creditor participation in the taxation proce…