Section 456J — Corporations Act 2001 (Cth)

A person who is or has been the restructuring practitioner for a company under restructuring is entitled to be indemnified out of the company’s property (other than any PPSA retention of title property subject to a PPSA security interest that is perfected within the meaning of the Personal Property Securities Act 2009) for:

(a) any debts or liabilities incurred, or damages or losses sustained, in good faith and without negligence, by the restructuring practitioner:

(i) in the performance or purported performance of the restructuring practitioner’s functions or duties; or

(ii) in the exercise or purported exercise of the restructuring practitioner’s powers; and

(b) the remuneration to which the restructuring practitioner is entitled under Insolvency Practice Rules made under Subdivision DA of Division 60 of Schedule 2.

Related sections

• s 456F — Declarations by replacement restructuring practitioner—relevant relationships
• s 456G — Rights, obligations and liabilities of a company and its officers in relation to the restructuring practitioner
• s 456H — No liability for consent etc.
• s 456K — Right of indemnity has priority over other debts
• s 456L — Lien to secure indemnity
• s 456LA — Restructuring practitioner has qualified privilege

Research how courts apply s 456J

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.