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Conclusion
Figures released by ITSA for the period 2007/2008 provisionally indicate that total personal insolvency activity continues to increase and during that period it grew by 2.9% to 32,909. New bankruptcies in the June 2008 quarter numbered 7,058. In comparison there was an increase in Part IX debt agreements of 1.6% but during the quarter [...]
Continue reading...Enactment of legislation
By enactment of the Bankruptcy Legislation Amendment (Debt Agreements) Act 2007 and accompanied by regulations effective 1 July 2007, most if not all of the objectives as they relate to debt agreement administrators were implemented and in respect of those amendments the following discussion is offered:
Basic eligibility test
The test is one of ineligibility rather than [...]
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