- 08, 25, 2015
- Comments Off on Trustees rights on liquidation (indemnification and exoneration)
- By whiggs
- Trustees, Trusts & Trustee Law
Trustees rights on liquidation (indemnification and exoneration)
Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 A corporate trustee enters liquidation, its position is as follows: (i) its right of indemnity, or exoneration, is retained (at [16]); (ii) it continues to have the right to meet creditors’ claims related to any liabilities incurred by it in its capacity as trustee, out of the […]
Read More- 08, 25, 2015
- Comments Off on Trustees rights generally (indemnification and exoneration)
- By whiggs
- Trustees, Trusts & Trustee Law
Trustees rights generally (indemnification and exoneration)
Caterpillar Financial Australia Limited v Ovens Nominees Pty Ltd [2011] FCA 677 A corporate trustee is acting properly in its capacity as trustee, it has the following rights (at [14]): (i) when a corporate trustee incurs a liability on behalf of the trust, it has a right of indemnity out of the trust assets and retains an equitable […]
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