Liquidators have remuneration and funds-handling application approved
Redstar’s late model prime movers and trailers were eventually sold off via auction |
New details have emerged on the complex company structure of Redstar Transport and its liquidation process, which has been ongoing since December 2018.
Liquidators Martin Francis Ford and Stephen Graham Longley recently applied to the Victorian Supreme Court under section 65-45 of the Insolvency Practice Schedule (IPS) of the Corporations Act to have their remuneration approved and bypass certain funds-handling compliance provisions to hasten Redstars wind-up.
Section 64-45 empowers the court to make directions regarding the payment, deposit or custody …
Read the full article at: https://www.fullyloaded.com.au/industry-news/2008/supreme-court-insight-on-redstar-liquidation-process