27 Aug 2009
RE LEHMAN BROTHERS SECURITIES ASIA LTD
- Citation
- RE LEHMAN BROTHERS SECURITIES ASIA LTD
- Court
- Court of First Instance
- Case number
- HCCW437/2008
The court held that provisional liquidators appointed under section 193 and who continued in office after a winding up order under section 194(1)(aa) have their remuneration assessed by the court in the exercise of its inherent jurisdiction; assessment is governed by the Maxwell Principles; agents' fees employed by provisional liquidators do not require mandatory taxation under the Winding Up Rules absent statutory applicability or subsequent challenge when accounts are passed; the period of provisional liquidation ends only when the court appoints liquidators following meetings; the judge wi…