8 Oct 2021
ELDERS MERCHANDISE LIMITED v QUANTUM GROW LIMITED (IN LIQ) [2021] NZHC 2396 [8 October 2021]
- Citation
- [2021] NZHC 2396
- Court
- High Court
Because the liquidators failed to provide adequate, itemised records linking time and disbursements to recoveries and litigated extensively without demonstrated cost‑benefit, the Court disallowed unexplained disbursements and parts of the fees as unreasonable: disallowed $28,886.50 in disbursements, $20,000 in fees attributable to Lotus Gardens litigation, and $7,500 for routine clerical/unexplained time, totaling $56,386.50, to be refunded to creditors; the balance of fees and disbursements approved subject to reporting confirmation of distribution.