In an important decision for insolvency practitioners, the Full Court of the Federal Court has held that financial statements of a discretionary trust of which a prospective defendant was a beneficiary did not fall within “examinable affairs” of a company in liquidation under the Corporations Act 2001 (Cth) so that they were not able to be the subject of an order for production under s 597(9) of that Act.
Damien O’Brien QC appeared for the trustees of the various discretionary trusts and the prospective defendant and was successful in having the orders for production set aside at first instance and successfully resisted the appeal. The decision, Pleash (Liquidator) v Tucker [2018] FCAFC 144 is available here.
Damien O’Brien