Bankruptcy Reform – Review of Debt Agreements
Members were informed by email of the discussions held at the Bankruptcy Reform Consultative Forum on 12 December 2012. Members are reminded to submit their ideas to the Executive by no later than 15 February 2012. To assist, submissions by interested parties have been made available on the Attorney-General’s website. There are some very interesting propositions in these papers and members are urged to peruse them. Access may be gained at:
www.ag.gov.au
Nb: in the search box type: Review of Debt Agreements
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Since the reform of the Bankruptcy Act in 2007 a substantial set of changes have taken hold of consumer debt and personal Insolvency. There has been amalgamation and consolidation because of the Global Financial Crisis, pressuring corporations, banks and financial institutions to change their structures and business models.