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Court of Appeal allows appeal of High Court order fixing remuneration of a liquidator, and reduces the fees payable in respect to a number of periods, on the grounds that: a) it is for the official liquidator - who seeks to be remunerated and to an extent which exceeds substantially the estimates originally submitted and approved by the Court - to justify his claim; and b) greater visibility and particulars of the actual basis for and the precise nature of his claim for remuneration ought to have been provided.
Company law – appeal of High Court order fixing remuneration of liquidator – s. 228 of the Companies Acts 1963 – 2012 – O. 74, r. 46 of the Rules of the Superior Courts – whether the amount of the remuneration the liquidator is seeking is reasonable for the work done by him – Keane “Company Law in the Republic of Ireland” – discretionary jurisdiction of the High Court – basis of assessment of liquidator’s remuneration – fair remuneration and the practice of the courts – attempts to raise new issues on appeal – legitimus contradictor – Murdoch’s Dictionary of Irish Law (4th ed Butterworths 2014) – “Loose & Griffiths on Liquidators” 8th Ed. 1.5 – liquidator as trustee – McPherson’s, “Law of Company Liquidation” 3rd Ed. Sweet & Maxwell 2013 – liquidator as fiduciary – prudent man test – estimates – fees reduced – appeal allowed.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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