Nimmo, Re Approval of accounts of intromissions [2013] ScotCS CSOH_4 (11 January 2013)

Nimmo, Re Approval of accounts of intromissions [2013] ScotCS CSOH_4 (11 January 2013)

The claimed remuneration and outlays for the provisional liquidation period are fair and reasonable, justified by the complexity, sensitivity, and intensity of the work, supported by market rates, detailed records, and approval by the liquidation committee and independent auditor; no cogent reason exists to reject the professional advice.

Citation
[2013] ScotCS CSOH_4
Parties
Noter / Liquidator: Blair Carnegie Nimmo; Company in Liquidation: St Margaret's School, Edinburgh, Ltd
Jurisdiction
Scotland
Judgment Date
11 January 2013
Procedural Posture
Audit and Approval of Accounts of Intromissions in Liquidation / Final Hearing and Determination
Outcome
Application granted in full
Legal Topics
Liquidator Remuneration, Approval of Accounts, Audit of Intromissions, Distribution of Assets
Insolvency Corporate Law Liquidator Remuneration Approval of Accounts Audit of Intromissions Distribution of Assets

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Parties

Blair Carnegie Nimmo

Noter / Liquidator

St Margaret's School, Edinburgh, Ltd

Company in Liquidation

Procedural Posture

Audit and Approval of Accounts of Intromissions in Liquidation / Final Hearing and Determination

Legal Issues

  1. 1 Whether the claimed remuneration and outlays for the provisional liquidation period are fair and reasonable
  2. 2 Whether the work and hourly rates charged are justified given the complexity and sensitivity of the liquidation

Ratio Decidendi

The claimed remuneration and outlays for the provisional liquidation period are fair and reasonable, justified by the complexity, sensitivity, and intensity of the work, supported by market rates, detailed records, and approval by the liquidation committee and independent auditor; no cogent reason exists to reject the professional advice.

Court Disposition

Application granted in full

Orders

  • Liquidator's remuneration of £120,344.75 (plus VAT) for provisional liquidation period approved
  • Outlays of £1,047.28 (plus VAT) approved