Ruling Granting Retrospective Sanction In the Matter of Peregrine Derivatives Limited at the Grand Court of the Cayman Islands, despite criticisms of actions of PwC liquidators David Hague, Stephen Caswell, Donald Osborn, and Richard Harris.
Order transferring a case styled 'In the Matter of Peregrine Derivatives Limited' to the Financial Services Division of the Grand Court of the Cayman Islands.
A Hong Kong judge has hit out at the provisional liquidators of the Bermuda-registered Peregrine Group after they and their legal advisers charged fees of $76 million for just 63 days of work. Doreen Le Pichon, Judge of the Court of First Instance High Court, said she was "greatly troubled by the amount involved" and refused to accept the charges of accounting firm Price Waterhouse and its legal advisers unless they could prove the work was reasonable and necessary.