7 Jul 2006
RE GOLDLORY RESTAURANT LTD
- Citation
- RE GOLDLORY RESTAURANT LTD
- Court
- Court of First Instance
- Case number
- HCCW996/2000
The court held that as a matter of statutory construction s196(2) and rule146(2) confer an unfettered discretion on the court and do not make the Official Receiver's percentage basis the default; consequently the court need not require special circumstances to adopt a time cost basis. As a matter of practice the court should adopt the time cost basis for remuneration of liquidators in summary s227F cases and provide for that basis when making a summary procedure order to ensure cost‑effective administration and viability of the Panel T Scheme.