Global Insolvency | Daily News Headlines on Insolvency Developments across the Globe

Liquidator’s fees and expenses - Universal Distributing considered by the High Court

2014-05-09

In Stewart v Atco Controls Pty Limited (in liquidation) [2014] HCA 15, the High Court confirmed the Universal Distributing principle that a liquidator is entitled to be paid his or her remuneration and expenses in realising assets in priority to a secured creditor.

BACKGROUND

Filed under:

Australia, Insolvency & Restructuring, Litigation, Corrs Chambers Westgarth, Liquidation, Secured creditor, Liquidator (law), Unsecured creditor, Victoria Supreme Court

Authors:

David Abernethy , Sam Delaney , Michael Kimmins , Kirsty Sutherland

Location:

Australia

Firm:

Corrs Chambers Westgarth

Challenging the sale by a liquidator

2013-08-30

In the recent decision of Wentworth Metals Group Pty Ltd v Leigh and Owen (as liquidators of Bonython Metals Group Pty Limited); In the matter of Bonython Metals Group Pty Ltd (In liq) [2013] FCA 349, the Federal Court considered the duties owed by a liquidator when selling assets and the circumstances in which a court should interfere with the decisions of a liquidator.