7 Jul 2006
RE GOLDLORY RESTAURANT LTD
- Citation
- RE GOLDLORY RESTAURANT LTD
- Court
- Court of First Instance
- Case number
- HCCW968/2001
The court holds that s196(2) grants an unfettered discretion to determine the basis of remuneration for liquidators in summary cases under s227F and that rule 146(2) does not impose a default percentage basis; as a matter of practice the time cost basis should be adopted and provided for at the making of a summary procedure order to reflect statutory purpose and practical realities.