Bankruptcy Act 1966 (Cth)

Our core areas of Specialisation

We provide expert legal services tailored to the specific laws and procedures governing personal insolvency in Australia, helping individuals navigate the system and achieve the best possible outcome while adhering to the Bankruptcy Act 1966 and interacting with bodies like AFSA and the Australian courts.

 

Initial Consultation and Assessment:

Evaluate Financial Situation: 

We will thoroughly assess your financial circumstances, including debts, assets, income, and liabilities, to determine if bankruptcy is the most suitable option under Australian law.

Explain Australian Bankruptcy Law:

We will explain the intricacies of the Bankruptcy Act 1966, the different pathways to bankruptcy in Australia (debtor's petition vs. creditor's petition), and the implications of each.

Discuss Alternatives:

Our lawyers will also advise on alternatives to bankruptcy available under Australian law, such as Debt Agreements and Personal Insolvency Agreements (PIAs), which are formal arrangements managed by AFSA.  

Outline Consequences:

We will clearly explain the consequences of bankruptcy in Australia, including how it may affect your assets, income, credit rating, ability to travel overseas, and certain types of employment. We will also explain what assets are protected under Australian law.

Providing Legal Advice and Guidance:

Bankruptcy Notices:

We advise debtors on how to respond to Bankruptcy Notices issued by creditors and we also assist creditors in issuing valid Bankruptcy Notices through AFSA.

Acts of Bankruptcy:

We provide counsel on what constitutes an "act of bankruptcy" under Australian law.

The Role of AFSA and Trustees:

We explain the roles and responsibilities of AFSA (the Official Receiver) and registered trustees in managing bankruptcies in Australia.

Sequestration Orders:

Our DOC Lawyers guide clients through the process of obtaining or opposing a Sequestration Order from the Federal Court or the Federal Circuit and Family Court of Australia, which formally declares a person bankrupt.  

Voidable Transactions:

We advise upon and handle issues related to voidable transactions (e.g., preferential payments or transfers of assets made before bankruptcy) that a trustee may seek to recover under Australian law.  

Superannuation:

We provide advice on the protection of superannuation funds under Australian bankruptcy laws.

Preparing and Filing Legal Documents:

Debtor's Petition:

We assist individuals in preparing and lodging a Debtor's Petition with AFSA to voluntarily declare bankruptcy.  

Creditor's Petition:

We help creditors prepare and file a Creditor's Petition with the relevant Australian court to initiate bankruptcy proceedings against a debtor.

Statement of Affairs:

We assist debtors in completing the detailed Statement of Affairs required by AFSA, outlining their financial position.

Court Documents:

We prepare all necessary court documents for bankruptcy hearings and applications.

Representation in Australian Courts and Meetings:

Meetings of Creditors:

We represent clients at meetings of creditors convened by the trustee.

Court Hearings:

We appear in the Federal Court or the Federal Circuit and Family Court of Australia for hearings related to bankruptcy matters, such as applications to set aside Bankruptcy Notices or Sequestration Orders.  

Liaising with Trustees and AFSA:

We act as a point of contact between our clients, the bankruptcy trustee, and AFSA.

Negotiation and Dispute Resolution within the Australian Legal Framework:

Negotiating Debt Agreements and PIAs:

We assist in negotiating the terms of Debt Agreements or Personal Insolvency Agreements with creditors, as alternatives to bankruptcy under Australian law.  

Dispute Resolution:

We help resolve disputes with creditors or the trustee regarding asset ownership, debt claims, or other bankruptcy-related issues, often within the framework of the Bankruptcy Act 1966.  

Post-Bankruptcy Advice:

Discharge from Bankruptcy:

We advise clients on the process and implications of being discharged from bankruptcy in Australia (typically after three years and one day).

National Personal Insolvency Index (NPII):

We explain how bankruptcy and related events are recorded on the NPII, a public register maintained by AFSA, and the duration of these listings. Recent reforms in Australia are reducing the recording period on the NPII to seven years following discharge.  

Rebuilding Finances:

We provide guidance on rebuilding credit and managing finances in accordance with Australian financial regulations after bankruptcy.