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Liquidation
What is Liquidation? Australian Liquidation Guide 2025
What is Liquidation in Australia? Liquidation is the process of concluding a company’s affairs, primarily when it is insolvent or nearing insolvency. This involves selling the company’s assets to repay debts to creditors, employees, and shareholders. The liquidation process can be initiated by the Court, company members, or creditors, and is carried out by a […]
Bankruptcy
Employment Restrictions for Bankrupts
Bankruptcy has a serious impact on your life. It may also affect your employment and your ability to act as the director of a company during the bankruptcy process. The Australian Financial Security Authority (AFSA) recognises that it’s important to allow a bankrupt individual to continue working and earning an income. While there are certain […]
Bankruptcy
How Property Matters in Bankruptcy
Real estate is often our most significant life investment. People form sentimental attachments to their family homes, and will go to great lengths to safeguard it. If property does fall in the hands of a Bankruptcy Trustee (Trustee), the interest of the Bankrupt vests in the Trustee and the Bankrupt cannot deal with their interest. […]
Bankruptcy
Breaking Down the Acts of Bankruptcy
Navigating personal insolvency is always a challenging situation. When you are unable to pay your debts, it’s important to explore your options as soon as possible. Acting quickly may allow you to take advantage of some of the more flexible options available under the Bankruptcy Act 1996. Three main debt solutions fall under the umbrella […]
Bankruptcy
Bankruptcy Trustee
Bankruptcy proceedings are complex. The process is managed by registered professionals to ensure honesty, fairness and compliance. These registered professionals are referred to as ‘Trustees’. It’s their responsibility to administer bankrupt estates, coordinate creditor claims and protect the interests of everyone involved. What is a Bankruptcy Trustee? A Bankruptcy Trustee is a registered professional […]
Bankruptcy
Does Bankruptcy Clear All Debts?
Struggling to pay your debts can be stressful. This is especially true if creditors are pursuing you for outstanding amounts. Bankruptcy is one of the solutions available to individuals in this situation. While it is a last resort, bankruptcy offers reprieve from creditors and releases you from most debts. However, not all debts are cleared […]