This question is based on Australian legislation.

Couple buys farm from bank with Home loan mortgage. They form a company and transfers the farm and animals to the company. Bank gives them a business loan (1 January) which is secured against farm and any property owned by the company (from time to time). Company falls behind and defaults on payments. Bank appoints receiver to secure the property. Farm includes new machine which the receiver cannot be bothered moving due to its size, but notes its fixed on the wall but not in the ground. Receiver also notices the security is only against the land, but doesn't list animals or machinery. Receiver immediately registers security against goats and machinery. Company enters liquidation (3 January).

Liquidator sells animals at auction for 40% market value, sells another set of animals at private sale for standard market rate without haggling, and sells the farm at action for 80% market value.

Q:

What liability does the receiver/liquidator (same person) have in relation to the sales?

Besides insurance, what could he have done to protect himself from person liability.