Insolvent Trading Trusts: Mystery Solved!
CPD Seminar - 18 September 2019
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In the recent decision of Carter Holt Harvey v Commonwealth  HCA 20 (Re Amerind), the High Court has given guidance on the vexed question of how an insolvent corporate trustee is to deal with the assets of a trading trust. This question has been hotly contested in insolvency law since the divergent decisions of the Full Court of the Supreme Court of Victoria in Re Enhill and the Full Court the Supreme Court of South Australian in Re Suco Gold.
In a reprise of the popular CPD delivered last year, these panel members discuss the High Court decision in Re Amerind, deal with the distinction between the use of company and trust assets when paying trust creditors, look at the obligation of an insolvent trustee when holding assets as a bare trustee only and consider the issue of liquidator remuneration.
This topic has broad significance and will be of interest to legal practitioners, insolvency practitioners and accountants alike.