EODC v Lincoln (the Liquidator) (MA 72/2020 (arising in CS 27/2008)) [2021] SCSC 1006 (6 October 2021)

EODC v Lincoln (the Liquidator) (MA 72/2020 (arising in CS 27/2008)) [2021] SCSC 1006 (6 October 2021)

The liquidator cannot be released until all outstanding matters are resolved, including refund of overpaid fees, taxation of legal fees, confirmation from the Revenue Commissioner regarding tax status, and confirmation from secured creditors of receipt of disbursed amounts.

Citation
[2021] SCSC 1006
Parties
Petitioner: EODC; Respondent: Gerard Lincoln (the Liquidator)
Court
Supreme Court
Jurisdiction
Seychelles
Judgment Date
6 October 2021
Case Number
MA 72/2020 (arising in CS 27/2008)
Procedural Posture
Liquidation Application / Ruling on Release of Liquidator and Outstanding Matters
Outcome
Liquidator's release deferred pending compliance with orders; additional fees sanctioned; overpayments and untaxed legal fees to be refunded or taxed; confirmations required.
Legal Topics
Liquidator's Release, Liquidator's Fees, Legal Fees Taxation, Company Winding Up, Official Receiver's Report
Source Language
English
Insolvency Company Law Liquidator's Release Liquidator's Fees Legal Fees Taxation Company Winding Up Official Receiver's Report

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Parties

EODC

Petitioner

Gerard Lincoln (the Liquidator)

Respondent

Procedural Posture

Liquidation Application / Ruling on Release of Liquidator and Outstanding Matters

Legal Issues

  1. 1 Whether the liquidator should be released given outstanding matters
  2. 2 Whether additional liquidator fees should be sanctioned
  3. 3 Whether overpaid fees and legal fees should be refunded or taxed

Ratio Decidendi

The liquidator cannot be released until all outstanding matters are resolved, including refund of overpaid fees, taxation of legal fees, confirmation from the Revenue Commissioner regarding tax status, and confirmation from secured creditors of receipt of disbursed amounts.

Court Disposition

Liquidator's release deferred pending compliance with orders; additional fees sanctioned; overpayments and untaxed legal fees to be refunded or taxed; confirmations required.

Orders

  • Liquidator to refund R 5,979,500 to the Registry of the Supreme Court.
  • Liquidator to refund R 180,000 in overpaid legal fees to the Registry of the Supreme Court.