"Commercial trusts and the liability of beneficiaries: Are commercial trusts a satisfactory vehicle to be used in modern day commerce?" presented by the Hon Chief Justice TF Bathurst AC, Supreme Court of New South Wales
Date: 5 October 2021
Despite the trust not having its origins in commerce, despite the passage of almost 40 years since Professor Harold Ford published ‘Trading Trusts and Creditors’ Rights’, and despite numerous calls for reform, there remains no comprehensive legislative regime governing what is colloquially described as the insolvency of commercial trusts. This lecture examines the adequacy of the current regime in Australia as it concerns the liability of beneficiaries in the event of the insolvency of commercial trusts. It examines the question of whether the 1901 decision of Hardoon v Belilios has any relevance to the problems facing commercial trusts today.
View a video recording of the lecture here.