7 Jul 2006
RE GOLDLORY RESTAURANT LTD
- Citation
- RE GOLDLORY RESTAURANT LTD
- Court
- Court of First Instance
- Case number
- HCCW365/2003
The court held that s196(2) and rule 146(2) afford the court an unfettered discretion as to the basis of liquidator remuneration in summary s227F cases, and that rule 146(2) does not impose the Official Receiver's percentage scale as the default. As a matter of practice the court will adopt the time cost basis as the standard for remuneration in summary winding-up cases and it is appropriate to provide for that basis when the summary procedure order is made; no special circumstances need be shown to depart from percentage basis.