Federal Court confirms assets purchased....

Mar 13, 2015

Earlier this week the Federal Court made clear that assets purchased by a bankrupt from his or her exempt income vest automatically in the bankruptcy trustee. Under bankruptcy legislation, bankrupts are allowed to earn (and keep for themselves) a certain amount of...

Statutory demands – 3 for the price of 1....

Mar 9, 2015

The case of Greenhills Securities Pty Ltd v Loire Consultants Pty Ltd [2015] NSWSC 13 is yet another case which should warn creditors that statutory demands should only be used when there is no dispute as to the debt and that the debt needs to be clearly identified....

Lahood v Ernst & Young decision pub....

Feb 17, 2015

The decision in Lahood v Ernst & Young; In the matter of Dave Lahood Pty Ltd (in liq) [2015] FCA 89 was published today. In the decision Justice Forster recited the matters the court will consider when an applicant seeks orders for an inquiry into a bankruptcy...

Official Trustee Unable to Set Aside Fin....

Jan 8, 2015

In Official Trustee in Bankruptcy & Galanis and Anor [2014] FamCA 832 the Family Court of Australia held that the Official Trustee in Bankruptcy is a body corporate and not a government body, and given that it is “no more than a statutory trustee” it...