Hong Kong Case Law: Decisions & Judgments | LexChat

Topic

Administration of trust assets

Legal area

Court

28 Aug 2012

RE C.A. PACIFIC FINANCE LTD (in Liquidation)

Citation

RE C.A. PACIFIC FINANCE LTD (in Liquidation)
Court

Court of First Instance
Case number

HCCW36/1998

Applying the Ferris criteria and the assessor's targeted percentage reductions (not an across-the-board cut), the court assessed the liquidators' remuneration for administration of trust assets at HKD 83,252,953 with disbursements HKD 2,543,663, and ordered the Official Receiver to release HKD 2,844,460 from provisional processing fee funds to the liquidators; assessments were conducted by category and period to ensure proportionality and 'value for money'.
28 Aug 2012

RE C.A. PACIFIC FINANCE LTD (in Liquidation)

Citation

RE C.A. PACIFIC FINANCE LTD (in Liquidation)
Court

Court of First Instance
Case number

HCCW37/1998

Applying Ferris criteria and assessor's input, the court conducted a detailed category-by-category assessment applying proportionality/value-for-money reductions (including accepted assessor percentage reductions for early TFMs and specific reductions later), assessed total remuneration for administration of trust assets at HK$83,252,953 with disbursements HK$2,543,663, and ordered the Official Receiver to release HK$2,844,460 from provisional processing fees to the liquidators.