18 Jun 2020
COMMISSIONER OF INLAND REVENUE v GREEN SECURITIES LIMITED (IN LIQUIDATION) [2020] NZHC 1371
- Citation
- [2020] NZHC 1371
- Court
- High Court
The Court fixed a global remuneration figure of $120,000 (exclusive of GST) as the reasonable sum payable to the liquidators, having reviewed time records, tasks performed, efficiencies, and value delivered to creditors; routine clerical activities and inefficiencies (including excessive staffing and unnecessarily complex litigation strategy) warranted reduction and $5,000 (plus GST) was deducted from legal expenses, with the fixed sum to cover all steps to complete the liquidation.