7 Jul 2006
RE GOLDLORY RESTAURANT LTD
- Citation
- RE GOLDLORY RESTAURANT LTD
- Court
- Court of First Instance
- Case number
- HCCW999/2001
The court held that s196(2) and rule 146(2) grant the court an unfettered discretion and that the percentage basis applicable to the Official Receiver is not the mandatory default; accordingly, as a matter of practice the time cost basis should be adopted for remuneration of liquidators in summary winding-up cases and should be provided for when a summary procedure order under s227F is made.