20 Aug 2003
RE MYRIAD GOLD CORPORATION
- Citation
- RE MYRIAD GOLD CORPORATION
- Court
- Court of First Instance
- Case number
- HCCW346/2002
The court authorized the provisional liquidators to charge remuneration on a time‑cost basis under the Panel A scale (to be paid from the petitioning companies' assets where available) and, given the coinciding interests of the parent companies and BF, ruled in principle that the provisional liquidators may exercise shareholders' powers in BF to cause BF to indemnify them and to provide for payment of their remuneration and solicitors' costs out of BF assets, subject to qualifications (the resolutions cease to apply if a petition to wind up BF is presented and any indemnity is limited to acts…