Key lesson from ASIC’s recent losses: do not be quick to condemn a liquidator in a difficult position

Mark Wilks, Brooke Egan and Sophia Wright of Corrs summarise two cases which bring into focus the conduct of insolvency practitioners and alleged abrogation of their duties and independence and argue that a conflict of interest will not automatically disqualify a liquidator’s appointment, particularly where the conflict of interest is inadvertent and does not cause concerns for creditors.

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