A new Bill was passed in parliament on 23 March 2020 and received assent the following day, making significant changes to how bankruptcy and insolvency regulations and laws will now work due to the impact of COVID-19.
Bankruptcy
The importance of Full and Frank Disclosure
Earlier this year the Full Court overturned property settlement Orders on the basis that the parties entered into the agreement with the purpose and effect of defeating creditors.
Dealing with Debt
With the mining downturn many are struggling to cope with the financial stress brought about by reduced employment opportunities and falling property prices throughout the region. While some consider bankruptcy as the only option or last resort, there are options to repaying debt without the need to become bankrupt.
Financial Stress
It is probably no surprise to the readers of this article that there are many people in our community that are currently experiencing financial stress in one way or another. If there is one common mistake that people make when they find themselves in a default situation, with either their bank or a some other creditor, is that they simply ignore the problem and/or make promises to the bank/creditor that they simply cannot meet.
Is Your Business Struggling to Pay its Debts?
Times are tough at the moment and many businesses are struggling financially.
Insolvency occurs when your business cannot pay its debts, which can result in your business closing down. Different insolvency procedures apply to individuals and companies.
An Overview of Bankruptcy
turned_in_notBankruptcy, Insolvency
The law as it relates to insolvency is fundamental in balancing the interests of an individual with those of the general community. It does this by ensuring that creditors are paid from the limited resources owned by a debtor.
News
The “Bank of Mum and Dad”
Michael White
Making a Will – What is an Executor and what do they have to do?
What happens if you die without a Will?
The Importance of Completing a Pre-Settlement Inspection
Queensland Legislation Permits the Identity of an Accused to be Publicised
Buyer Beware – Failure to Pay Your Deposit on Time May Lead to Termination of Your Property Contract
