Friday, September 6, 2019
Article on Trustees' Rights of Indemnity, Insolvency and Statutory Distributions to Preferred Creditors
Mark Leeming recently published an Article entitled, Trustees' Rights of Indemnity, Insolvency and Statutory Distributions to Preferred Creditors, Wills, Trusts, & Estates Law eJournal (2018). Provided below is an abstract of the Article.
What is the nature of a trustee's right of indemnity, and, in particular, if the trustee of a trading trust is wound up, how does it interact with the Australian statutory scheme for distribution to creditors? Two Australian intermediate courts delivered substantial judgments addressing these questions in 2018: Jones v Matrix Partners Pty Ltd  FCAFC 40 and Commonwealth of Australia v Byrnes  VSCA 41. This casenote summarises those decisions.