TRUSTS AND TRUSTEES - application for orders under s 81 of the Trustees Act 1925 (NSW) - application for orders permitting insolvent corporate trustee to deal with trust assets - where insolvent company ceased to be trustee upon appointment of liquidator - where insolvent company is bare trustee of trust assets - whether to empower insolvent company to deal with trust assets - application allowed
CORPORATIONS - application for directions under s 479(3) of the Corporations Act 2001 (Cth) - application for directions that liquidator would be justified in making payments from assets held by insolvent corporate trustee - where liquidator seeks direction that he would be justified in paying liquidator's expenses and remuneration from trust assets - whether to make directions - application allowed
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