29 Mar 2012
RE PO YUEN (TO\'S) MACHINE FACTORY LTD
- Citation
- RE PO YUEN (TO\'S) MACHINE FACTORY LTD
- Court
- Court of First Instance
- Case number
- HCCW88/2008
The court granted sanction for the liquidators to engage Mr Lu as a PRC agent ad litem and approved the contingency funding arrangement at 40% because mainland law permits appointment of non-lawyer agents ad litem (Civil Procedure Law Art 58), the liquidators had taken an informed view that the arrangement advanced creditors' interests, and the specific circumstances justified a higher contingency fee given additional commercial functions; the sanction was granted subject to minor amendments to the summons and with a warning that liquidators must observe their duties as officers of the court.