CORPORATIONS – Application by liquidators for directions – Liquidators winding up a company that acted as a trustee carrying on a family restaurant – Company now a bare trustee – Liquidators seek a direction that they are justified in being reimbursed out of the trust assets for the reasonable cost and expenses in conducting investigations and examinations into claims by creditors and possible claims by the company – Held liquidators justified in proceeding on the basis that they are entitled as of right to be reimbursed their reasonable costs and expenses incurred in such investigations and examinations as those activities fall within the salvage principles in Universal Distributing – Section 511 Corporations Act 2001 (Cth).
