Bankruptcy in Australia – how does it work?

Bankruptcy in Australia follows a similar pattern to Insolvency in the UK. There is one major difference between the UK and Australia – when you declare yourself bankrupt in Australia you do not pay a bankruptcy Court fee to do so, one of the most sensible rulings that we have heard of.

In the time we have dealt with Bankruptcy we have spoken with many other overseas insolvency companies including organisations based in Australia. The owner of Bankruptcy from Abroad had the opportunity of meeting a fellow bankruptcy specialist from Australia when he recently paid a visit to London.

A pleasant few hours were spent in a Covent Garden pub (drinking Fosters of course!) and discussing how bankruptcy operates in Australia and the differences in the way things are dealt with compared to the UK. One thing that became apparent during the meeting is that the “Credit Crunch” is a global situation and reflected in the worldwide economy, not just the UK.

 

For further information please contact our company and an advisor will be in contact to discuss your situation as soon as possible.

 

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