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Petitioning Creditor Ordered to Pay the Remuneration of Wrongly Appointed Liquidators

On Monday 14 May 2012, the Eastern Caribbean Supreme Court, Court of Appeal delivered judgment in Pacific China Holdings Limited v Grand Pacific Holdings Limited HCVAO2010/039 (BVI) (Court of Appeal). The issue in that case was who should bear the ultimate liability for the joint liquidators’ remuneration, costs, fees and expenses (the “liquidator’s remuneration”) where their appointment had been subsequently set aside by the Court of Appeal. The appeal was the Company’s and from the decision of the Commercial Judge wherein he found that he did not have the jurisdiction to order that a petitioning creditor be made ultimately liable for the liquidators’ remuneration.

Richard Millet QC from Essex Court Chambers, Mark Forté and Tameka Davis of Conyers Dill & Pearman in the BVI appeared for the
Company.

 

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Petitioning Creditor Ordered to Pay the Remuneration of Wrongly Appointed Liquidators

 


Tameka Davis
Counsel

British Virgin Islands   +1 284 852 1120


Mark J. Forte
Partner, Head of BVI Litigation & Restructuring and Office

British Virgin Islands   +1 284 346 1113


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