Federal Court of Australia
Federal Court of Australia Mansfield in his capacity as the trustee in the bankruptcy of Yang v Palladium Investments International Pty Ltd [2023] FCA 690 File number: NSD 1130 of 2018
Judgment of: CHEESEMAN J
Date of judgment: 22 June 2023
Date of publication of reasons: 23 June 2023
Catchwords: BANKRUPTCY AND INSOLVENCY – application by liquidators of corporate trustee rendered a bare trustee by operation of an ipso facto clause in the trust deed and by receivers and manager of the assets of the trust in relation to: joinder of additional plaintiffs; confidentiality; powers of receivers and managers; remuneration of the liquidators; remuneration and expenses of the receivers and managers; resignation of one of the joint and several liquidators and one of the joint and several receivers and managers; and a declaration under section 90-15(1) of the Insolvency Practice Schedule (Corporations), Schedule 2 to the Corporations Act 2001 (Cth) – Held: Orders made substantially in the form sought.
Legislation: Corporations Act 2001 (Cth) ss 420, 477, Sch 2 s 60-12 Trustee Act 1925 (NSW) s 81
Division: General Division
Registry: New South Wales
National Practice Area: Commercial and Corporations
Sub-area: Corporations and Corporate Insolvency
Number of paragraphs: 41
Date of last submission/s: 20 June 2023
Date of hearing: 21 June 2023, 22 June 2023
Counsel for the Applicant Mr M Collins
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