Re W & C Broadhurst Pty Ltd
Supreme Court of Victoria
Delany J
30/11/2022
[2022] VSC 737
Companies — Deregistration — Reinstatement — Corporate trustee of self-managed superannuation fund — Company deregistered before proceeds of life insurance policy became payable to it — Proceeds of policy vested in Commonwealth — Whether to order transfer of life insurance policy proceeds to company — Whether to order transfer to nominee of binding death benefit nomination — Whether appointment of liquidator to corporate SMSF trustee would cause the company to become a ‘disqualified person’ contrary to Superannuation Industry (Supervision) Act 1993 (Cth) — Alternatives to liquidation — Corporations Act 2001 (Cth), ss 601(AD)(1A), 601AH(1), 601AH(2) and 601AH(3) — Superannuation Industry (Supervision) Act 1993 (Cth), ss 120, 126J and 126K
Family law — Whether proceeds of life insurance policy a ‘splittable payment’ — Whether proceeds of life insurance policy constitute a ‘superannuation interest’ — Family Law Act 1975 (Cth), ss 90XA, 90XB, 90XD, 90XE, 90XS and 90XT
Words and phrases — ‘superannuation interest’ — ‘disqualified person’ — ‘splittable payment’
Read the judgment here.