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