This Article discusses, in whatever detail, how bankruptcy is aerated in assorted countries. state is today chosen for further study. It considers The Bankruptcy Act 1966 (Commonwealth), and the threesome germane provisions. It notes the requirements for an individual to be proclaimed bankrupt. It studies essential aspects much as the Insolvency and Trustee Service of Australia, the Statement of Affairs, the Bankruptcy Trustee (Official Receiver), and a Sequestration Order. Finally, the restrictions settled upon a smash are considered.
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