Catchwords:
CORPORATIONS – Winding up – Application for orders under s 90-15 of Schedule 2 – Insolvency Practice Schedule (Corporations) to the Corporations Act 2001 (Cth) – Whether liquidators entitled to be paid their remuneration, costs and expenses under s 556(1) of the Corporations Act 2001 (Cth).
TRUSTS – Corporate trustee required to give notice of intention to retire as trustee upon liquidation – Whether liquidators entitled to treat assets as trust assets – Application for orders under s 90-15 of Schedule 2 – Insolvency Practice Schedule (Corporations) to the Corporations Act 2001 (Cth) empowering liquidators to deal with and dispose of trust assets – Whether distribution of trust property to be governed by Parts 5.5 and 5.6 of the Corporations Act 2001 (Cth) – Application for orders under s 67 of the Trustee Act 1958 (Vic) – Failing to give notice of intention to retire in accordance with trust deed – Section 67 of the Trustee Act 1958 (Vic) applies to trustees not to liquidators.
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