25 Jul 2023
Emiprima Sdn Bhd Wonderful Castle Sdn Bhd (In Liquidation)
- Citation
- B-02(A)-1256-07/2022 (Mahkamah Rayuan)
- Court
- A
- Case number
- B-02(A)-1256-07/2022 (Mahkamah Rayuan)
The High Court erred in accepting the COI's percentage-based calculation under Table C without independent scrutiny. Subsection 479(3) imposes a statutory duty on the winding up court to examine whether a COI-determined remuneration is fair and reasonable when challenged by a contributory holding at least 10%; Table C percentages are not an automatic entitlement for private liquidators. The correct remedy is to remit the matter to the High Court for full taxation to determine a fair and reasonable remuneration supported by particulars of work. Accordingly the appeal is allowed and the High Co…