1 Nov 2001
Re Guangnan (KK) Supermarket Ltd.
- Citation
- Re Guangnan (KK) Supermarket Ltd.
- Court
- Court of First Instance
- Case number
- HCCW618/2001
Given the large number of creditors, low anticipated return to unsecured creditors, substantial estimated costs and logistical difficulty of convening first meetings, and the support of major creditors and the Official Receiver, the court was entitled to make a regulating order under s.227A, dispense with first meetings under s.227B (with the Official Receiver joining the application), appoint the existing provisional liquidators as joint and several liquidators, fix remuneration to be calculated on a time spent basis at agreed standard hourly rates and paid from company assets subject to sec…