Read the full judgment text of HCCW 299/2011 on BabelCite. This Court of First Instance judgment was delivered on 16 October 2014 before Hon Harris J.
Costs – winding-up – liquidators’ summons – adversarial litigation – indemnity costs – special feature – third affirmation – minimal prospects – undertaking by shareholder. The court determined costs applications arising from an earlier decision on a liquidators’ summons concerning valuation of a creditor’s debt. The dispute was adversarial, so costs followed the event. Indemnity costs were warranted from a date after the creditor had time to consider decisive evidence filed by the liquidators. The shareholder of the creditor accepted liability by undertaking to pay any costs order against the company.
Legal issues: Costs basis for liquidators' summons · Liability of shareholder for costs
Outcome: Global Empire Limited ordered to pay the liquidators' costs of the summons on a party and party basis up to and including 20 July 2014, and on an indemnity basis thereafter. Costs of the costs hearing itself on a party and party basis. Mr Kirpalani gave an undertaking to be liable for any costs order against Global.
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