Trust me…

Yesterday, the Supreme Court of New South Wales delivered a decision of relevance to the practice of every liquidator in Australia.

Justice Brereton, whose recent decisions on insolvency practitioner remuneration have drawn a fair bit of attention, delivered a complex decision in which he reached conclusions of significance to any liquidator winding up a corporate trustee, considering a claim for superannuation, or seeking court approval of fees. Continue reading

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Liquidator remuneration rights clarified

A recent decision of the Supreme Court of NSW has concluded that the cases “establish clearly enough” that, where a company conducted all its activities as trustee of a trust, the liquidator is entitled to be paid from trust property for general winding up work, not just trust-specific work: