Full Record

Indemnifying creditors and risk management
Record ID:
22557
Format:
LIJ Article
Year:
2002
Author:
Morris, Scott K. ;
Source:
LIJ (2002) 76 No 3
Date_of_entry:
02/04/2002
Legislation:
Corporations Act 2001 (Cth) Pt. 5.7B or ss 556, 564, 566
Notes:
Section 564 of the Corporations Act 2001 gives creditors who provide an indemnity for costs of litigation an advantage over other creditors. However, there are risks involved in providing such an indmnity, this article discusses these issues and includes headings relating to the following issues:- ; The Liquidator, financial incentive for creditors - the application - entitlement to be paid ; Indemnifying creditor v other unsecured creditors - opportunity to indemnity? - exposure at risk - personal guarantee and indemnity What was the antcipated return? - litigation insurance - entitlement of other unsecured creditors ; To indemnify of not indemnify?
Section:
Feature
Cases:
State Bank of NSW & Anor. v Brown & Ors [2001] NSWCA 223 ;
Month:
April


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