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
About Michael Jones
Michael is the Managing Principal of Jones Partners Insolvency and Business Recovery and holds a Bachelor of Arts (Accounting) Degree from Macquarie University. He is a Fellow of the Institute of Chartered Accountants in Australia (“ICA”) and is a member of the Australian Restructuring Insolvency and Turnaround Association (“ARITA”).
He is a Registered Liquidator and a Registered Trustee in Bankruptcy. Michael was also a former NSW State Councillor of the ICA and has served on a number of Committees.
Entries by Michael Jones
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
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
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
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
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
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
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
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
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