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Proposed system of costs scheduling for insolvency practitioners

November 2015 - Human Resources. Legal Developments by Drew & Napier LLC .

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Proposed system of costs scheduling for insolvency practitioners

11 Nov 2015

This update discusses the recent case of Kao Chai-Chau Linda v Fong Wai Lyn Carolyn and others [2015] SGHC 260.p>

Having previously succeeded in objecting to three bills of costs presented by a company’s receivers and convincing the High Court to reduce the amounts charged by about 40% in each instance, Jimmy Yim, SC, Erroll Ian Joseph, Daniel Soo, Mahesh Rai and Andrew Lee from Drew & Napier LLC (together with solicitors for other parties) successfully objected to this latest bill of costs presented by the receivers to the High Court.

In this case, the Singapore High Court proposed the institution of costs scheduling for insolvency practitioners in light of several recent instances of court disputes over professional fees charged by insolvency practitioners.

To read the update, please click here.