Practitioners advising on insolvencies of corporate trustees must now proceed on the basis that the statutory priority regime in ss 433, 556 and 560 of the Corporations Act applies to trust assets subject to the trustee's right of indemnity, where those assets are subject to a circulating security interest. The Re Enhill approach (that trust assets are not 'property of the company') should no longer be followed in Victoria.
The full text is available to signed-in members, including the 39 later cases that cite this judgment.
2 of the 39 citing cases carry a classified treatment. How each court treated it is available to signed-in members.