Michell, in the matter of Walker's Brick & Block Pty Ltd (in liquidation) [2025] FCA 119

Michell, in the matter of Walker's Brick & Block Pty Ltd (in liquidation) [2025] FCA 119

The liquidator must be appointed as receiver and manager to permit realisation of trust assets, as the company in liquidation, being merely a bare trustee, lacks power to dispose of those assets without a court appointment.

Parties
First Plaintiff: Stephen John Michell; Second Plaintiff: Walker's Brick & Block Pty Ltd (in liquidation)
Jurisdiction
Australia
Judgment Date
20 February 2025
Procedural Posture
Corporations and Corporate Insolvency / Application for Appointment of Receiver and Manager
Outcome
Application granted
Legal Topics
Appointment of Liquidator as Receiver, Trust Assets During Liquidation
Bankruptcy and Insolvency Corporations Law Appointment of Liquidator as Receiver Trust Assets During Liquidation

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Parties

Stephen John Michell

First Plaintiff

Walker's Brick & Block Pty Ltd (in liquidation)

Second Plaintiff

Procedural Posture

Corporations and Corporate Insolvency / Application for Appointment of Receiver and Manager

Legal Issues

  1. 1 Whether the liquidator should be appointed as receiver and manager of trust assets and undertakings
  2. 2 Powers of a former trustee in liquidation over trust assets

Ratio Decidendi

The liquidator must be appointed as receiver and manager to permit realisation of trust assets, as the company in liquidation, being merely a bare trustee, lacks power to dispose of those assets without a court appointment.

Court Disposition

Application granted

Orders

  • Stephen John Michell appointed as receiver and manager over the property, assets and undertakings of the Walker Brick & Block Family Trust.
  • Dispensation with the need for the receiver to file a guarantee under rule 14.21 of the Federal Court Rules 2011 (Cth).