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Trust me - I don't own anything


Amid the meltdown of local and international financial markets, it is expected that some people may well be seeking comfort that their asset protection strategies will do what they were intended to do. With this in mind, and having regard to the pace of legislative change and concerns arising from the Richstar and Cummins cases, this paper provides a brief synopsis and commentary on the legislative and judicial landscape in which such asset protection strategies may be tested.

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Michael Lhuede
Photo of author, Michael LHUEDE Michael specialises in corporate and personal insolvency law. Michael acts for Australia's leading banks and secured lenders and for liquidators,administrators and receivers advising in all aspects of corporate insolvency and workouts. He has also conducted some of Australia’s most complex bankruptcy cases. Michael regularly advises boards and directors of listed and unlisted companies in relation to their duties upon insolvency and the restructuring of financially stressed businesses. For the past four years Michael has been named in "Best Lawyers •Australia" in the Insolvency and Reorganisation category, being named Best Lawyer •Victoria for that category in 2012. He is a member of the Insolvency Practitioners Association of Australia and of the Insolvency & Reconstruction Committee of the Law Council of Australia and the co-author of a chapter of Personal Property Securities in Australia published by Lexis Nexis. - Current at 27 July 2012
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