Judgment
In re SPhinX Group of Companies (In Official Liquidation) - Judgment
[2012] CIGC (FSD) 160
· FSD 0016/2009 (ASCJ) · 2012-11-13
Whether the JOLs discharged their burden to justify fees for 1 January–31 August 2010; whether the staffing structure was top‑heavy and inefficient; whether duplication of work, excessive senior involvement, and internal meetings justified reductions; whether the Asset and Liability Report provided value commensurate with its cost; whether any volume discount should be applied to remuneration; whether travel‑time charges and temporary‑staff costs were reasonable; whether Moore Stephens’ criticisms should be accepted in whole or in part; whether the Court should endorse the continued use of external fee‑assessment assistance
Full metadata
| Neutral Citation | [2012] CIGC (FSD) 160 |
|---|---|
| Cause Number | FSD 0016/2009 (ASCJ) |
| Court | CIGC (FSD) |
| Judge | Smellie CJ |
| Parties | In re SPhinX Group of Companies (In Official Liquidation) - Judgment |
| Judgment Date | 2012-11-13 |
| Subject | Whether the JOLs discharged their burden to justify fees for 1 January–31 August 2010; whether the staffing structure was top‑heavy and inefficient; whether duplication of work, excessive senior involvement, and internal meetings justified reductions; whether the Asset and Liability Report provided value commensurate with its cost; whether any volume discount should be applied to remuneration; whether travel‑time charges and temporary‑staff costs were reasonable; whether Moore Stephens’ criticisms should be accepted in whole or in part; whether the Court should endorse the continued use of external fee‑assessment assistance |
| Filename (current) | 12-10-19-Sphinx-Group-of-Companies-In-re.pdf |
Legislation cited
| Statute | Sections cited | Mentions |
|---|---|---|
| Companies Act | 104(2) | 3 |
| Grand Court Act | 18(2) | 3 |
| Companies Winding Up Rules (subordinate) | — | 1 |
| Grand Court Rules - Vol I - Orders (subordinate) | — | 1 |
| Insolvency Practitioners Regulations (subordinate) | — | 1 |
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