JAN - 2014
Insolvency Law- Winding Up – Provisional Liquidator
The provisional liquidators filed an application against the liquidators for an order that the Company pay the provisional liquidators‘ professional fees incurred without any further delay. The question set out before the Court was how far the extent of the equitable lien held by the provisional liquidators reached. It was the liquidators‘ case that the lien extends only insofar as the assets that were realised by the provisional liquidators in the course of their appointment. They contended that insofar as these assets are insufficient to satisfy the provisional liquidators‘ claims, the outstanding would fall to be distributed as a preferential debt under ss 328(1)(a) and 328(3) of the Companies Act (Cap. 50), and thus rank pari passu with the costs of the liquidators.
After many months, the Personal Data Protection Act 2010 ("Act") has finally come into force on 15 November 2013. The following new regulations have also been issued:
(a) Personal Data Protection Regulations 2013;
(b) Personal Data Protection (Class of Data Users) Order 2013;
(c) Personal Data Protection (Registration of Data User) Regulations 2013; and
(d) Personal Data Protection (Fees) Regulations 2013, collectively ("Regulations").