The companies judge has been accused of exceeding her powers by ordering a liquidator's fees for a scheme of arrangement be scrutinised by the court.
The case marks the second time in less than a week that the judge's jurisdiction over fees has become the focus of a court battle.
A decision to appoint an independent expert to scrutinise Peregrine fees incurred by PricewaterhouseCoopers was last week deemed within the judge's powers following a court challenge.
Yesterday, Nelson Wheeler Corporate Reconstruction & Insolvency sought to quash an order by Mrs Justice Doreen Le Pichon that scrutiny of scheme fees be vested in the hands of a taxation master.
This supervisory job should be done by the committee of inspection, counsel for Nelson Wheeler, barrister John Scott SC argued.
Only in cases where the committee disagreed with the liquidators on remuneration should the court intervene, he said.