What happens if a trustee company goes into liquidation or is deregistered?

What happens if a trustee company goes into liquidation or is deregistered?

We are often approached by clients or accountants with problems relating to their trusts – sometimes the deed has been lost or damaged, or the trust was established some time ago and the terms need to be updated. An issue that has become increasingly common in recent years (particularly following the GFC) is that where a trustee company goes into liquidation or has been deregistered. This can become quite a complex issue to resolve, particularly when the trust owns real property, or when the trust is a self managed superannuation fund. This issue was also recently considered by the Queensland Court of Appeal in Thorne Developments Pty Ltd v Thorne & Anor [2016] QCA 63 (Thorne).

We are often approached by clients or accountants with problems relating to their trusts – sometimes the deed has been lost or damaged, or the trust was established some time ago and the terms need to be updated.  An issue that has become increasingly common in recent years (particularly following the GFC) is that where a trustee company goes into liquidation or has been deregistered.  This can become quite a complex issue to resolve, particularly when the trust owns real property, or when the trust is a self managed superannuation fund.  This issue was also recently considered by the Queensland Court of Appeal in Thorne Developments Pty Ltd v Thorne & Anor [2016] QCA 63 (Thorne).

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