Corporate Trustee

Sladen Snippet - Absolute Vision Technologies – Former SMSF corporate trustee in administration but still holds SMSF property

Sladen Snippet - Absolute Vision Technologies – Former SMSF corporate trustee in administration but still holds SMSF property

What happens if the former trustee of an SMSF is still the registered proprietor of an SMSF property and goes into administration? This issue was considered in the decision of Re Absolute Vision Technologies Pty Ltd (subject to deed of company administration) [2024] NSWSC 1010 (13 August 2024). There, the Court ordered that a contract be completed where the former trustee entered into a contract of sale of real estate (Suite 901) notwithstanding it was in administration.