Introduction

It sometimes happens that stakeholders become disgruntled with the liquidator appointed to wind up the affairs of a company. So, what can be done?

There is power in s 473(1) of the Corporations Act 2001 (Cth) for the court to remove (and replace) a liquidator. But, how hard is this process?

Discussion of recent Federal Court case

The High Court’s recent decision in Selig v Wealthsure Pty Ltd [2015] HCA 18 carries a warning for both financial service providers and their professional indemnity insurers.

Background