High Court of Australia

Stewart v Atco Controls Pty Ltd (in Liquidation) [2014] HCA 15

88 ALJR 594; 307 ALR 562

7 May 2014

Case Number: M141/2013


Crennan, Kiefel, Bell, Gageler, Keane JJ


Equity – Equitable charges and liens – Liquidator's equitable lien for costs, expenses and remuneration – Where asset realised by liquidator's efforts in pursuing litigation – Where litigation involved unsuccessful attack on interest of secured creditor – Where liquidator acting with propriety and in course of his duties – Whether liquidator entitled to equitable lien over asset in priority to secured creditor.

Words and phrases – "come in to the winding up", "costs and expenses of realisation", "equitable lien", "Universal Distributing principle".

Corporations Act 2001 (Cth) – s 564.

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