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Remember remuneration report requirements

The importance of complying with the statutory requirements in relation to remuneration reports to creditors was recently highlighted in the decision of Lock, in the matter of Cedenco JV Australia Pty Ltd (in liq) (No 2) [2019] FCA 93, wherein the Federal Court of Australia found that the failure of the two liquidators to provide sufficient detail in a remuneration report to creditors invalidated previously approved remuneration.

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