Is a Bankrupt’s money his/her own?
A question that is frequently asked by an individual that may be contemplating bankruptcy is what happens to the income they earn during bankruptcy. In short, the Bankruptcy Act 1966 … Read More
Author Archive for: Michael
Entries by Michael Jones
What impact does personal bankruptcy or other Insolvency proceedings have on individual’s credit rating?
As a bankruptcy trustee I am often asked by individuals facing personal financial hardship what will happen to my credit rating if I formally declare myself bankrupt More importantly individuals
How does the Asian economic boom affect Australian insolvencies?
There is no doubt that the global economy is going through enormous structural change as the weight of global economic activity increasingly shifts towards Asia. The above diagram demonstrates that … Read More
Is Management the key driver of business success or failure?
Although external factors do play a part in the success or failure of a business, research shows that internal factors such as the quality of management is far more important.… Read More
Rates of Currency Exchange – Impact on Australian Businesses – Jones Partners
According to a recent report issued by the ASIC the main reason for Corporate insolvencies can be related to ”bad strategic management” It may seem that exchange rate fluctuations are … Read More
In Australia is the economy as robust as some economists would have us think?
Whilst interest rates in Australia are at historic lows and we remain in relatively good financial shape when compared to other Western Economies, what lies beneath needs to be understood.… Read More
Superannuation a useful way to protect personal assets of individuals
It is true that superannuation funds are ordinarily protected property in the event that an individual becomes bankrupt. There is however and exception to this general principle where a superannuation … Read More
Protecting Inherited Personal Assets In the event of Bankruptcy
One issue that frequently arises in relation to the administration of bankrupt estates is the difficulty of the bankrupt being a beneficiary under a Will.
Divisible property is defined broadly … Read More
Asset Protection for Directors and Business Owners
Antecedent transactions
Business owners are often anxious about what might happen to their private assets should their business runs into difficulties and ultimately fail.
Many individuals contemplate transferring private property … Read More
Personal Insolvency – A Potted Summary
Personal Insolvency – A Potted Summary
Introduction
In Australia the Personal Insolvency regime is governed by the Bankruptcy Act 1966. This is a Federal Act of Parliament and contrary to … Read More
