Review of The Bankruptcy Threshold (The Review)

by AFIA

18 August 2020

AFIA's overarching response to this Review is that it is important that the policies that underpin Commonwealth bankruptcy law:

1. provide a fair and orderly process for dealing with the financial affairs of insolvent individuals;

2. provide a mechanism to enable both debtors and creditors to participate with the least possible delay and expense;

3. preserve the rights of creditors to facilitate the efficient recovery of property which is then applied to the payment of debts and liabilities of debtors; and

4. as far as possible, be practical and convenient and support the commercial and economic processes of the financial industry.

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