Receivers and managers of responsible entities of managed investment schemes may claim an indemnity secured by equitable lien over scheme property for remuneration and expenses reasonably incurred in the care, preservation and realisation of scheme assets, applying the salvage principle from Re Universal Distributing. The claim must be scheme-specific, not global, and the appropriate process is for the receivers to establish a prima facie case before the Court, with provision for an objection process by interested stakeholders. Evidence of voluminous financial records may be adduced by way of summaries under s 50 of the Evidence Act 2008 (Vic) where the statutory requirements are met.
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