The high profile liquidation of Custom House Capital Limited (In Liquidation) continued in 2012. Following a successful exercise to reconcile and confirm the position regarding certain client assets, the liquidator of the company proposed applying a fee of 0.5% when transferring the assets to clients to cover the costs of the reconciliation exercise.

Amantiss Enterprises Limited and Wilbury Limited were placed into creditors’ voluntary liquidation in 1994. Following the appointment of a liquidator, proceedings were issued by the two companies, together with a third company, Framus Limited, against a multitude of defendants including CRH plc, Readymix plc and Kilsaran Concrete Products Limited, alleging breaches of competition law.

In two cases decided towards the end of 2012, the High Court applied reductions to the hourly charge out rate of staff members employed by the liquidator who had been promoted during the course of the liquidation.

On August 2, 2010, Maru E. Johansen, in her capacity as the foreign representative (the “Foreign Representative”)1 in respect of Mexican insolvency proceedings regarding Compania Mexicana de Aviacion, S.A. de C.V. (“Mexicana”), filed a petition for recognition in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”), commencing a case under Chapter 15 of the United States Bankruptcy Code.2 Mexicana and its affiliates operate Mexicana Airlines, Mexico’s largest airline.