Liquidator ordered to repay nearly R6 million by Court of Appeal |22 August 2025
Liquidator ordered to repay nearly R6 million by Court of Appeal
The Seychelles Court of Appeal has dismissed an appeal by liquidator Gerald Lincoln, confirming that he must refund almost R6 million in fees he wrongfully paid himself during the winding-up of Ailee Development Corporation.
The ruling, delivered on Monday, August 18, 2025, stems from a long-running dispute over payments made by Mr Lincoln, while acting as liquidator of the company. The Court found that he paid himself both liquidator’s fees and legal fees without the necessary prior approval of the Court, in breach of the Companies Ordinance, and winding-up regulations.
To continue reading, please click here to subscribe to Seychelles NATION’s e copy