Bankruptcy Act 1966
Note: See section 4A .
PART 3 - GENERAL RULES RELATING TO ESTATE ADMINISTRATIONS
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Hide history noteCreditors may remove trustee and appoint another
90-35(1)
The creditors may: (a) by resolution at a meeting, remove the trustee of a regulated debtor ' s estate; and (b) by resolution at the same or a subsequent meeting, appoint another person as trustee of the regulated debtor ' s estate.
Note:
For the general rules relating to meetings, see Division 75 .
90-35(2)
However, the creditors may not do so unless at least 5 business days ' notice of the meeting is given to all persons who are entitled to receive notice of creditors ' meetings.
Former trustee may apply to Court to be reappointed
90-35(3)
A person (the former trustee ) who has been removed as trustee of the regulated debtor ' s estate by resolution of the creditors may apply to the Court to be reappointed as trustee of the regulated debtor ' s estate.
90-35(4)
If the former trustee makes such an application, the former trustee must: (a) record all costs incurred by the former trustee and the debtor ' s estate in relation to the application; and (b) do so in a way that separates those costs from the costs incurred by the former trustee and the regulated debtor ' s estate in relation to other matters.
90-35(5)
The Court may order that the former trustee be reappointed as trustee of the regulated debtor ' s estate if the Court is satisfied that the removal of the former trustee was an improper use of the powers of one or more creditors.
90-35(6)
The Court may make such other orders in relation to the application as it thinks fit, including orders in relation to: (a) the costs of the application; and (b) the remuneration of the former trustee.
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