Hong Kong Case Law: Decisions & Judgments | LexChat

Hong Kong Case Law

Panel t outsourcing scheme

  • 7 Jul 2006

    RE GOLDLORY RESTAURANT LTD

    Citation
    RE GOLDLORY RESTAURANT LTD
    Court
    Court of First Instance
    Case number
    HCCW1290/2001

    The court held that under s196(2) and rule146(2) it has an unfettered discretion and the percentage basis applicable to the Official Receiver is not the default in summary s227F cases; as a matter of practice the time cost basis shall be adopted as the basis of remuneration in summary cases and should be provided for at the time the summary procedure order is made; no showing of special circumstances is required to adopt time costs.

  • 7 Jul 2006

    RE GOLDLORY RESTAURANT LTD

    Citation
    RE GOLDLORY RESTAURANT LTD
    Court
    Court of First Instance
    Case number
    HCCW748/2001

    The court held that s196(2) confers an unfettered discretion to fix liquidator remuneration in summary cases and that rule146(2) does not mandate the Official Receivers percentage scale as the default; as a matter of practice the time cost basis should be adopted and provided for when a summary procedure order under s227F is made, because this accords with the statutory purpose, practical realities of minimal realisations and the Panel T subsidy/tender framework.

  • 7 Jul 2006

    RE GOLDLORY RESTAURANT LTD

    Citation
    RE GOLDLORY RESTAURANT LTD
    Court
    Court of First Instance
    Case number
    HCCW1046/2002

    The court held that s196(2) and rule146(2) confer an unfettered discretion upon the court to determine the basis of a liquidator's remuneration in summary cases; the percentage basis applicable to the Official Receiver is not the default. As a matter of practice the court will adopt the time cost basis as the standard in summary winding-up orders under s227F and such basis should be provided for when the summary procedure order is made; no special circumstances need be shown to adopt time costs.