RE OSMAN MOHAMMED ARAB AND WONG KWOK KEUNG, JOINT AND SEVERAL LIQUIDATORS OF PEKING FU FACTORY (HONG KONG) LTD (In Creditors’ Voluntary Liquidation)

HCMP 394/2021

[2021] HKCFI 1164

IN THE HIGH COURT OF THE

HONG KONG SPECIAL ADMINISTRATIVE REGION

COURT OF FIRST INSTANCE

MISCELLANEOUS PROCEEDINGS NO 394 OF 2021

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D E C I S I O N

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1.  I have an application by the Joint and Several Liquidators of the Company which is in creditors’ voluntary liquidation for the assessment of their fees by the Court. I understand that the special resolution passed pursuant to section 228A of the Companies (Winding Up and Miscellaneous Provisions) Ordinance (Cap 32) did not provide, as it could have pursuant to section 235 for the remuneration of the Liquidators and set out how it would to be assessed.

2.  The Company does not have a committee of inspection and attempts by the Liquidators to convene a meeting for creditors to approve their fees and expenses, or to form a committee of inspection specifically to do so, have been unsuccessful.  In the circumstances, it has become necessary for the Liquidators to apply to Court for the Court to make the assessment.

3.  I will order that the assessment is undertaken by a taxing master who will probably be more familiar with the process and I currently out.