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Christopher Caleo QC
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The final word on the application of the statutory priority regime to insolvent corporate trustees: The High Court decision in Re Amerind
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The final word on the application of the statutory priority regime to insolvent corporate trustees: The High Court decision in Re Amerind
The High Court decision has clarified how liquidators of corporate trustees may deal with trust assets and the application of the priority regime prescribed by the Corporations Act 2001 to the distribution of the proceeds of trust assets to trust creditors. The decision also resolves the long-standing tension between the decision of the Full Court of the Supreme Court of South Australia in Re Suco Gold Pty Ltd (in liq) (1983) SASR 99 and the Full Court of the Supreme Court of Victoria in Re Enhill Pty Ltd [1983] 1 VR 561.