Bankruptcy Offences - IPA Submission

The IPA has lodged a submission with the Insolvency and Trustee Service Australia (ITSA) in response to its review of the offence provisions of the Bankruptcy Act. The IPA has supported the thrust of the review, in particular as a means to further enforce what are significant obligations of bankrupts. The failure of bankrupts to abide by their obligations can add to additional costs and time in administering a bankruptcy, to the disadvantage of creditors. The IPA has however raised a number of technical issues about the detail of the reforms with a view to ensuring clarity in the law. The IPA has also raised issues of parity with comparable offences under the corporate legislation.

Any comments about the IPA submission can be made to the IPA's Legal Director, Michael Murray, at [email protected]