Hi Ricko5,The question at hand is if the trustee of the SMSF has...

Hi Ricko5,

The question at hand is if the trustee of the SMSF has assignedthe right to claim against DASS (referred to as "cause of action") toa third party.

A detailedexplanation is provided in the letter "Update to DASS creditors dated 23 April2024" under a section headed "Investment Vehicles".

The link to the update is here:

https://pzigxpeausle7dfp001.blob.core.windows.net/ghs-def-au-private/daee3f7b-2dbf-43ae-a4c3-3b8812335f14/records/ae423efd-c3e6-419e-9644-0e3453538814/uploaded_files/e5653162ae41dc0ed42e223a622b7fa8.pdf?sp=r&sv=2015-04-05&sr=b&st=2024-09-06T12%3A34%3A41Z&se=2024-09-06T13%3A05%3A41Z&sig=jGExHItZBh8mB4u5gGzDFVutKbNOISWByKle4idaBT0%3D.

For your convenience however I have copied the relevant section directly below:
Investment Vehicles

A number of former clients of DASS have queried what their rights are as a creditor ofDASS in circumstances where the investment vehicle that held URF Equities (e.g., trust orself-managed superfund (SMSF)) has been dissolved or where the creditor is a deceasedestate. As outlined above, the Deed Administrators sought directions from the Court in thisrespect and a summary of the outcome is set out below:
• From a legal perspective, a claim against DASS for losses suffered as a result ofadvice received to invest in URF Equities is a “cause of action” and can be definedas “property”
• A former client that submits a claim against DASS must hold the “cause of action”in order to have a valid claim
• When a former client takes steps to wind-up or dissolve the investment vehicle thatheld URF Equities, this may compromise their claim against DASS