7 Jul 2006
RE GOLDLORY RESTAURANT LTD
- Citation
- RE GOLDLORY RESTAURANT LTD
- Court
- Court of First Instance
- Case number
- HCCW1046/2002
The court held that s196(2) and rule146(2) confer an unfettered discretion upon the court to determine the basis of a liquidator's remuneration in summary cases; the percentage basis applicable to the Official Receiver is not the default. As a matter of practice the court will adopt the time cost basis as the standard in summary winding-up orders under s227F and such basis should be provided for when the summary procedure order is made; no special circumstances need be shown to adopt time costs.