Federal Court of Australia
Federal Court of Australia
Markel Syndicate Management Limited v Taylor as Liquidator of Heading Contractors Pty Ltd (In Liquidation) [2021] FCAFC 198 Appeal from: Taylor (liquidator), in the matter of Heading Contractors Pty Ltd (in liq) v Heading [2021] FCA 770
File number(s): SAD 151 of 2021
Judgment of: ALLSOP CJ, LEE AND ANASTASSIOU JJ
Date of judgment: 15 November 2021
Catchwords: INSURANCE – director of a company insured under director's liability policy – director became bankrupt and subsequently discharged from bankruptcy – insurance policy extended cover which would have been received by the director to, inter alia, his estate in the event of bankruptcy – whether the extension operated to indemnify the trustee in bankruptcy with respect to liability for insolvent trading
Legislation: Bankruptcy Act 1966 (Cth) s 588G, s 588M Corporations Act 2001 (Cth) ss 58, 82, 117, 149, 149A, 153 Survival of Causes of Action Act 1940 (SA)
Cases cited: Clyne v Deputy Commissioner of Taxation [1984] HCA 44; 154 CLR 589 Distillers Co Biochemicals (Aust) Pty Ltd v Ajax Insurance Co Ltd [1974] HCA 3; 130 CLR 1 Post Office v Norwich Union Fire Insurance Society Ltd [1967] 2 QB 363; 1 All ER 577 Tarea Management (North Shore) Pty Ltd (In Liquidation) v Glass [1991] FCA 73; 28 FCR 93 Taylor (Liquidator) v Duncan, Trustee of the Property of Heading [2020] FCA 1450 Taylor (liquidator), in the matter of Heading Contractors Pty Ltd (in liq) v Heading [2021] FCA 770
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