In the matter of OneTradex Ltd - Reasons for Rulings

Securities Investment Business - report by its auditor of improprieties - appointment of controllers by the Monetary Authority over its affairs - controllers application for their appointment as provisional liquidators - basis for appointment of provisional liquidators payment of liquidation costs from assets of clients held on trust -Berkeley Applegate principle - distribution of assets in satisfaction of claims while disputed claims unresolved - jurisdiction to allow - setting of liquidation reserve to meet costs and unresolved claims while allowing for return of assets - principle for setting of such a reserve - whether provisional liquidators might be allowed interim payment on costs jurisdiction to allow interim payments.