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Reduction in hourly rate allowed for staff retained by liquidator
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High Court grants order determining the remuneration of liquidator of company, having reduced the hourly rate allowed in respect of certain staff retained by him.
Company law – application by liquidator – remuneration of liquidator – company specialising in plastic mouldings for electronic, automotive and construction industries – loss of custom – winding up order in 2005 – s 228 of the Companies Act 1963 – Order 74, r. 46 of the Rules of the Superior Courts – discretion of court in relation to remuneration – application by liquidator on notice to creditors likely to be affected – reasonable remuneration – allegedly complex liquidation – fees sought in region of €1.5 million – fees sought in relation to various periods during winding up process – additional unanticipated work – objective justification of charge-out rates of staff retained by liquidator.
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