Bankruptcy can feel like the ultimate loss of privacy. Under section 77 of the Bankruptcy Act 1966 (Cth), a bankrupt has extensive obligations to disclose information, provide documents and assist their trustee in administering the bankrupt estate. These obligations are deliberately broad. A bankrupt cannot simply wait for the trustee to ask the right questions [...]
The personal insolvency regulator, the Australian Financial Security Authority (AFSA) has recently issued a warning around dodgy insolvency providers. It is anticipated that there will be a wave of business failures when the temporary insolvency relief measures come to an end at the end of this year. It is therefore a major concern of AFSA [...]
The Changes You may have heard that at the start of the COVID-19 crisis, the federal government placed a moratorium on insolvent trading laws in a bid to help eligible businesses manage the economic challenges of the coronavirus pandemic. The Morrison government has increased the threshold at which a creditor can issue a statutory demand [...]
As many may have heard over the past 24 hours, the federal government will essentially be placing a moratorium on insolvent trading laws in a bid to help eligible businesses manage the economic challenges of the coronavirus pandemic. The Morrison government will increase the threshold at which a creditor can issue a statutory demand (for [...]
