A direction under s 511 that a liquidator is justified in entering into a settlement exonerates the liquidator from personal liability, but the court will not give broader directions retrospectively declaring that the liquidator acted properly, approving the deed itself, or declaring that a condition precedent is satisfied. The inclusion of a release for the personal benefit of a special purpose liquidator in a settlement deed does not render entry into the deed inappropriate where there is no apparent viable claim against the SPL. A liquidator may rely on multiple sources of authority under s 477(2A) and (2B), including both committee of inspection approval and court approval.
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