6 Sept 2006
RE OCEAN TIME DEVELOPMENT LTD AND OTHERS
- Citation
- RE OCEAN TIME DEVELOPMENT LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCCW334/2004
The court varied the costs nisi: certified the appeals fit for two counsel and allowed the liquidators to recoup GGI's costs from the companies' assets; held the personal action against liquidators was procedurally wrong and futile because the correct mechanism was an application under s.276, and accordingly awarded the liquidators their costs of the strike‑out application and of the action on an indemnity basis to prevent them and the creditors bearing the shortfall.