The Court held that a court-appointed receiver's remuneration, costs and outlays must be proportionate to the size of the fund, the benefit obtained, and the difficulty of the task, and applied a 15% discount to the receiver's remuneration and a 10% discount to the solicitors' fees where the receiver pursued protracted and partially doomed litigation without seeking a Beddoe order or bringing a timely remuneration application. The Court emphasised that while the mere failure of litigation does not disentitle a receiver to remuneration, the receiver must exercise proper commercial judgment, and the failure to seek court guidance through Beddoe applications or interim remuneration fixing — particularly where the partnership's equity position had been negative for years — weighed against full recovery. The costs of the remuneration application were allowed as an expense of the administration notwithstanding the receiver's only partial success.
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