The Race To The Bottom Continues
Another year another tender. Well, not quite. In this case the tender only comes around every two years, but one thing that doesn’t change is the inexorable downward pressure on fees.
For this year’s tender, the average is HK$1,600, slightly below the 2012 average of HK$1,768. Individual tenders ranged from a high of HK$2,200 to a low of HK$688.
However, what hasn’t changed is the unarguable fact that it is simply not possible to undertake even the most basic liquidation at this fee level. Unfortunately, none of this is new – see here the comments by the late Professor Philip Smart made as long ago as 2007 on this very subject.