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Applying A Wider Restitutionary Basis To Equitable Liens Created Under The Universal Distributing Principle

In the recent decision of Re Australia’s Residential Builder Pty Ltd (in liq) [2019] VSC 115, the Victorian Supreme Court considered and extended the Universal Distributing equitable principle. This principle states that a secured creditor should not have the benefit of a fund created by a liquidator’s efforts during winding up, without the liquidator being reimbursed for their associated time and expense. On these facts, the Court was willing to extend this principle beyond the direct liquidator to a third-party liquidator.

What To Do With An Insolvent Corporate Trustee?

In the recent decision of Cremin, in the matter of Brimson Pty Ltd (in Liq) [2019] FCA 1023, the Federal Court provides useful guidance of what a liquidator should do when faced with an insolvent corporate trustee with a right of indemnity over trust assets. In situations where the corporate trustee ceases to be the trustee upon becoming insolvent, Brimson highlights the need to approach the Court before the liquidator is able to realise the assets of the trust to meet the company’s liabilities. The decision is one of the first since the handing down of the High Court’s findings in Carter Holt Harvey (Amerind) concerning the nature of the right of exoneration and the limit of what it can be used to indemnify.

The Cheesecake Shop Underpayment

In a recent case, the Federal Court of Australia awarded a pastry chef one of Australia’s biggest payouts for underpayment of wages. In formulating the decision, the Court took into account the franchisee’s exploitative actions along with the severe mistreatment of the employee.

MST Lawyers’ Client – Franchising Woman of the Year Finalist

By Louise Wolf, Senior Associate, MST Lawyers Louise Wolf, Senior Associate, had the pleasure of attending the 2019 FCA Vic/Tas Excellence in Franchising Awards with valued client, Natalie Bui.  Natalie is a multi-site franchisee of Quest Apartments and was a finalist for the FCA Award of Franchising Woman of the Year for Victoria and Tasmania.  MST…