28 Dec 1993
In re INTER TRANS FAR EAST LTD.
- Citation
- In re INTER TRANS FAR EAST LTD.
- Court
- Court of First Instance
- Case number
- HCCW195/1986
Under s.265(5B) a court may grant a creditor who indemnifies the liquidator a preferential share above pari passu where the indemnity and efforts materially contribute to recovery; the discretion must be exercised strictly, matching reward to risk/expense and, where practicable, offering other creditors the opportunity to indemnify; applying these principles, a 15% indemnity was reasonable on the facts.