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What are Bankruptcy Meetings or Meetings of Creditors? Bankruptcy Meetings are usually called in complex cases by the trustee who administers the bankruptcy. There are very strict rules and procedures for meetings of creditors. A trustee in bankruptcy may call a meeting of creditors to discuss the progress of the bankruptcy. If a trustee in bankruptcy was considering to proceed

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A Bankruptcy Trustee is a personal insolvency practitioner who is registered with the Australian Financial Security Authority (AFSA) to administer bankrupt estates and handle your financial affairs. The role of a Bankruptcy Trustee in Australia involves several statutory duties, which are outlined in the Bankruptcy Act 1966.   In accordance with Section 129 of the Bankruptcy Act, the Trustee must

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How is the bankruptcy procedure carried out? Once appointed, the Registered Bankruptcy Trustee will inform the creditors and take over the bankrupt’s financial affairs, allowing the debts to be managed and properly settled. The trustee may be required to liquidate assets in order to raise the required funds to pay off the obligations owing. Any assets that are divided into

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Bankruptcy is a very emotional and stressful situation, but are there any ways to get out of it early? Here are three possible ways.   Put forward a formal proposal Section 73 of the Bankruptcy Act outlines the steps to follow if you want to put a proposal to your creditors to end your bankruptcy early. If you wish for

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Does Bankruptcy clear Tax Debt in Australia? While entering bankruptcy can be difficult, it’s also important to consider what would happen if you still owe Centrelink or the ATO money after filing for bankruptcy. Most of your financial debts, including tax debts, can be erased when you are declared bankrupt. You may still have some tax-related obligations, just like you

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