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of <h1>Petitioner granted preferential creditor status in liquidation, court recognizes fiduciary relationship, allows claim. Liquidators authorized cost recovery.</h1> The petitioner was granted preferential creditor status in the company's liquidation due to an agreement with the Bank regarding a security deposit. The ... - The petitioner seeks preferential creditor status in the company's liquidation as per an agreement with the Bank where the Bank held his security deposit as a trustee. The Court upheld the petitioner's claim, emphasizing the fiduciary relationship between the petitioner and the Bank regarding the security deposit. Liquidators can recover costs from assets.
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