Lawrence (liquidator), in the matter of LXNDR Group Pty Ltd (In liq) [2021] FCA 1243

Federal Court of Australia

Lawrence (liquidator), in the matter of LXNDR Group Pty Ltd (In liq) [2021] FCA 1243 File number(s): VID 559 of 2021

Judgment of: ANDERSON J

Date of judgment: 14 October 2021

Catchwords: CORPORATIONS – insolvency – trustee company – liquidator powers to deal with trust property – the liquidators seek an order nun pro tunc that they are justified and acting reasonably in conducting the winding up of the company on the basis that it holds all of its assets and undertakings as trustee of the LXNDR Group Investments Trust – order pursuant to s 63 of the Trustee Act 1958 (Vic) – powers to deal with trust property –order relieving trustee from any liability for having already realised trust property – application allowed

Legislation: Corporations Act 2001 (Cth) Parts 5.5 and 5.6, s 1318, Schedule 2 – Insolvency Practice Schedule (Corporations), s 90-15, s 90-20 Trustee Act 1958 (Vic) s 63

Cases cited: Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 Cremin, in the matter of Brimson Pty Ltd (in liq) [2019] FCA 1023 at [49]-[50]; 136 ACSR 649 Deppeler, in the matter of Old Port Road Pty Ltd (in liq) [2021] FCA 980 In the matter of JML Property Services Pty Ltd (in liquidation) [2018] NSWSC 1069 In the matter of St George's Development Company Pty Ltd (in liq) [2018] VSC 595 Jess, in the matter of Westside Group Pty Ltd (in liq) [2020] FCA 1586 Jones (Liquidator) v Matrix Partners Pty ltd, in the matter of Killarnee Civil & Concrete Contractors Pty ltd (in liq) [2018] FCAFC 40, 124 ACSR 586 Rathner (liquidator), in the matter of Garrows Close Pty Ltd (in liq) [2021] FCA 505 Re Asten Holdings Pty Ltd (in liq) [2020] FCA 1107 Re Mackie Group Pty Ltd (in liq) [2017] VSC 477 Re Matthew Forbes Pty Ltd (in liq) [2018] VSC 331