3 Apr 1998
PEREGRINE INVESTMENTS HOLDINGS LTD.
- Citation
- PEREGRINE INVESTMENTS HOLDINGS LTD.
- Court
- Court of First Instance
- Case number
- HCCW20/1998
The court exercised its discretion to appoint a receiver ad litem to take over the conduct of the action from the Provisional Liquidators because the perceived conflict and threatened litigation against the firm of the Provisional Liquidators could affect creditors confidence and the effective conduct of litigation, and because appointment would likely minimise costs of a protracted dispute; it was unnecessary to resolve the conflict issue at this stage, and the appointment is subject to the court being satisfied as to the receiver's fitness and his consent.