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.