Click to view full size

The Privy Council on Tuesday upheld a Court of Appeal ruling requiring liquidators of CL Financial Ltd to provide fuller justification of their fees.

In a ruling delivered on September 16, the apex court dismissed the company’s appeal.

The case centred on whether joint liquidators Hugh Dickson and David Holukoff of Grant Thornton Ltd (GTL) adequately substantiated claims of more than US$3.1 million in fees and expenses for 2019.