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Under Australian law, the term insolvency is usually used with reference to companies, and bankruptcy is used in relation to individuals. [1] Insolvency law in Australia tries to seek an equitable balance between the competing interests of debtors , creditors and the wider community when debtors are unable to meet their financial obligations.
The bankruptcy jurisdiction was exercised by state courts. In proposing the establishment of the Federal Court of Bankruptcy, the Attorney-General , Frank Brennan , said that it was necessary because the number of bankruptcy cases had been increasing due to the Great Depression and the 1929 decision of the High Court , [ 11 ] which held that ...
Ebner v Official Trustee in Bankruptcy is a decision of the High Court of Australia. The case is an important decision in Administrative Law, for its holdings about the legal test for actual and apprehended bias in a decision maker. According to LawCite, the case has been cited the 28th most times of any High Court decision. [1] [2]
Personal Bankruptcy will eliminate most, if not all, of an individual’s debt, but it also impacts their future ability to obtain credit. The cost of personal bankruptcy in Canada depends on the individual’s monthly family income, the size of the family, and their assets (such as RRSPs).
the Rudd government's tax bonuses were constitutionally valid. Lane v Morrison: 2009 French - The Australian Military Court was an invalid attempt to exercise the judicial power of the Commonwealth because its members did not enjoy the tenure required by s 72 of the Constitution. Kirk v Industrial Court of NSW: 2010 French -
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full when due. Cessation of due payments (or receivables) may either be accompanied by that government's formal declaration that it will not pay (or only partially pay) its debts (repudiation), or it may be unannounced.
The Bankruptcy Disqualification Act 1871 (34 & 35 Vict. c. 50) The Bankruptcy and Deeds of Arrangement Act 1913 (3 & 4 Geo. 5. c. 34) The Bankruptcy Act 1914 (4 & 5 Geo. 5. c. 59) The Bankruptcy (Amendment) Act 1926 (16 & 17 Geo. 5. c. 7) The Bankruptcy Acts 1883 to 1890 was the collective title of the following Acts: [12] The Bankruptcy Act ...
The Australian Unemployed Workers' Union (AUWU), is an Australian union representing unemployed, underemployed and unwaged workers, including recipients of welfare payments and services in Australia. The AUWU is a national organisation, with divisions and branches operating in every State/Territory in Australia.