INSOLVENCY REMINDER – BANKRUPTCY REGULATION CHANGE

Tim Elliott

1 April, 2021

Commercial InsolvencyDispute Resolution, Insolvency and LitigationNews & UpdatesPersonal Insolvency

Today 1 April 2021, we say farewell to the Bankruptcy Regulations 1996 and say hello to the Bankruptcy Regulations 2021.

Main changes include:

• Numbering;
• Some new forms;
• Changes to how foreign proofs of debts are dealt with;
• New tables detailing indexed amounts allowed for past years.

Here is a comparison table that AFSA has kindly put together for practitioners to consider.

https://www.afsa.gov.au/sites/default/files/bankruptcy_regulations_comparison_table.pdf

For more information please contact Tim Elliott, Partner Litigation and Insolvency.

Disclaimer

Please note the topics discussed in this post are general in nature. None of the comments made constitute legal advice and nor should they be taken as such. If you have a legal query and would like advice or assistance, please call us on 07 5597 3366 or complete the ‘Contact Us‘ form below.