Section 456J — Corporations Act 2001: Right of indemnity

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.