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[Music] you [Music] hello everybody my name is Michael Quinn Im one of the directors of the queen group this month on quintessential TV well be discussing in trusts and what happens in a liquidation theres been no shortage of cases in recent years dealing with a scenario where a corporate trustee of a trust goes into liquidation judges have drawn on various authorities to provide guidance on key principles surrounding the liquidator exercising the companys right of indemnity and supporting lien and the interaction of the court with the corporation salesmen most notably whether the priority provisions apply despite the number of cases uncertainty remains and currently there is no firm overriding authority on a final position one of the most recent cases that have arisen has been the case involving the dealing with the Trusts assets in Lane trustee in the matter of lead the bankrupt against the Deputy Division of Taxation 2007 to the in case the matter involves a bankrupt to a sole
