The High Court has reduced a liquidator's bill by €25,000 because of "excessive charge-out rates".
David van Dessel of insolvency practitioners Kavanagh Fennell had cut his own fee from €385 an hour to €357 an hour, but had charged "substantial" increases to fees for staff promoted during the liquidation of Haydon Private Clients.
Haydon was incorporated in 2006 to acquire a property in Kiev in Ukraine. More than €9 million was raised from investors, but...
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