bankruptcy

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Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.
Bankrupt is not the only legal status that an insolvent person may have, and the term bankruptcy is therefore not a synonym for insolvency.

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    NSW Bankruptcy Vehicle Valuation

    We lent money to a friend on the 21.01.2024 and used his vehicle as security against the loan. They were unable to repay the loan and we subsequently took ownership of the vehicle on the 03.05.2024. They then declared bankruptcy on the 03.10.24 and we now have the trustee of there estate asking...
  2. M

    NSW Bankruptcy - interest in house in name of my spouse only

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  3. R

    QLD Partner share in property that is tied up in bankruptcy

    I bought our property in 2008 in my name only. Me and my wife was a couple already and got married on the property in 2010. I got involved in a Business that turned sour and I went into bankruptcy in 2016. I was discharged in 2019 and thought it was all in the past now but AFSA handed my file...
  4. Skateboard

    Bankruptcy due implied trust.

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    NSW Release of property after bankruptcy

    Due to a failed business my husband and I filed for bankruptcy in 2018 and then was released in 2021. At time of filing we were allowed to stay in the house we owned because there was no equity in it. After release the trustee told us they still hold the title and for it to come back to us we...
  6. M

    VIC Personal Bankruptcy & Trustee

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  7. T

    Bankruptcy Notice - Debtor disputes service date

    Hello, I have served a Creditor's Petition on the debtor , after obtaining an order for Substituted Service, however the debtor disputes the date of service of the Bankruptcy Notice. He claims that it was 2 weeks after the actual service date. My question is: If the Registrar believes the...
  8. P

    QLD TPO in QLD court has been VACATED - 22mths still no trial

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  9. W

    QLD How to legally plan ahead to protect family home?

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  10. S

    NSW Timeline for petitioning for bankruptcy

    Have a quick question. My son has just been advised a creditor is petitioning for bankruptcy. My son has quite a few assets totalling around 2mil which are not encumbered by outstanding debts. Over the past few years he has struggled with debts due to an illness. Part of the reason for the...
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