27 Aug 2009
RE LEHMAN BROTHERS ASIA HOLDING LTD
- Citation
- RE LEHMAN BROTHERS ASIA HOLDING LTD
- Court
- Court of First Instance
- Case number
- HCCW443/2008
The court held that remuneration of provisional liquidators appointed under section 193 and continuing in office after a winding up order under section 194(1)(aa) is to be assessed by the court under its inherent jurisdiction; the Maxwell Principles apply; bills of agents employed by such provisional liquidators are not automatically subject to taxation under the Winding Up Rules absent the limited class of provisional liquidators contemplated by the 2000 amendments or a subsequent challenge on passing of accounts; the provisional liquidation period ends when the court appoints a liquidator;…