H 54
[Subsidiary]
CAP. 32]
Companies (Winding-up) Rules
[1984 Ed.
Liquidator's charges.
R 191
Costs payable out of the assets;
R. 192.
L.N. 245/77.
L.N. 245/77.
L.N. 245/77.
L.N. 245/77.
L.N. 245/77.
COSTS AND EXPENSES PAYABLE OUT OF THE ASSETS OF THE COMPANY
178. (1) Where a liquidator or special manager in a winding up by the court receives remuneration for his services as such, no payment shall be allowed on his accounts in respect of the performance by any other person of the ordinary duties which are required by Ordinance or rules to be performed by himself.
(2) Where a liquidator is a solicitor he may contract that the remuneration for his services as liquidator shall include all professional services.
179. (1) The assets of a company in a winding up by the court, remaining after payment of the fees and expenses properly incurred in preserving, realizing or getting in the assets, including where the company has previously commenced to be wound up voluntarily such remuneration, costs, and expenses as the court may allow to a liquidator appointed in such voluntary winding up shall, subject to any order of the court, be liable to the following payments, which shall be made in the following order of priority, namely
First. The fees, percentages and charges payable to, or costs, charges and expenses incurred by or authorized by, the Official Receiver, whether acting as Official Receiver or liquidator, including the costs of any person properly employed by him.
Next. The taxed costs of the petition, including the taxed costs of any person appearing on the petition whose costs are allowed by the court.
Next. The remuneration of the special manager (if any).
Next. The costs and expenses of any person who makes or concurs in making the company's statement of affairs.
Next. The taxed charges of any shorthand writer appointed to take an examination:
Provided that where the shorthand writer is appointed at the instance of the Official Receiver the cost of the shorthand notes shall be deemed to be an expense incurred by the Official Receiver in getting in and realizing the assets of the company.
Next. The necessary disbursements of any liquidator, other than the Official Receiver, appointed in the winding up by the court, other than expenses properly incurred in preserving, realizing or getting in the assets heretofore provided for.
Next. The costs of any person properly employed by any liquidator, other than the Official Receiver, appointed in the winding up by the court.
Next. The remuneration of any liquidator, other than the Official Receiver, appointed in the winding up by the court.
Next. The actual out-of-pocket expenses necessarily incurred by the committee of inspection, subject to the approval of the Official Receiver.
:)
Page 35
Page 36
H 54
[Subsidiary]
CAP. 32]
Companies (Winding-up) Rules
[1984 Ed.
Liquidator's charges.
R 191
Costs payable out of the
assets;
R. 192.
L.N. 245/77.
L.N. 245/77.
L.N. 245/77.
L.N. 245/77.
L.N. 245/77.
COSTS AND EXPENSES PAYABLE OUT OF THE ASSETS OF THE COMPANY
178. (1) Where a liquidator or special manager in a winding up by the court receives remuneration for his services as such, no payment shall be allowed on his accounts in respect of the perform- ance by any other person of the ordinary duties which are required by Ordinance or rules to be performed by himself.
(2) Where a liquidator is a solicitor he may contract that the remuneration for his services as liquidator shall include all profes- sional services.
179. (1) The assets of a company in a winding up by the court. remaining after payment of the fees and expenses properly incurred in preserving, realizing or getting in the assets, including where the company has previously commenced to be wound up voluntarily such remuneration, costs, and expenses as the court may allow to a liquidator appointed in such voluntary winding up shall, subject to any order of the court, be liable to the following payments, which shall be made in the following order of priority, namely
First. The fees, percentages and charges payable to, or costs, charges and expenses incurred by or authorized by, the Official Receiver, whether acting as Official Receiver or liquidator, including the costs of any person properly employed by him.
Next. The taxed costs of the petition, including the taxed costs of any person appearing on the petition whose costs are allowed by the court.
Next. The remuneration of the special manager (if any).
Next. The costs and expenses of any person who makes or concurs in making, the company's statement of affairs.
Next. The taxed charges of any shorthand writer appointed to take an examination:
Provided that where the shorthand writer is appointed at the instance of the Official Receiver the cost of the shorthand notes shall be deemed to be an expense incurred by the Official Receiver in getting in and realizing the assets of the company.
Next. The necessary disbursements of any liquidator, other than the Official Receiver, appointed in the winding up by the court. other than expenses properly incurred in preserving, realizing or getting in the assets heretofore provided for.
Next. The costs of any person properly employed by any liquidator, other than the Official Receiver, appointed in the winding up by the court.
Next. The remuneration of any liquidator, other than the Official Receiver, appointed in the winding up by the court.
Next. The actual out-of-pocket expenses necessarily incurred by the committee of inspection. subject to the approval of the Official Receiver.
:)
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