Personal Bankruptcy

Bankruptcy occurs when an individual is legally declared (either of their own volition, or as the result of action taken by a creditor) unable to pay their debts. 

At MV Law, we can help both creditors looking to pursue a debtor into bankruptcy, and individuals served with a bankruptcy notice or looking to challenge a sequestration order.

For creditors, sometimes pursuing a debtor into bankruptcy may be the only option available. Expert advice can help with analysing the costs versus benefits of pursuing a bankruptcy order. More importantly, having the right experts involved can also bring perspective and options for ensuring unrecoverable debts are minimised in the future.

For individuals with overwhelming debt, going bankrupt can be a traumatic experience if you feel unsupported. With the right support it can in fact provide relief from unrelenting stress, and ultimately a fresh start.

Our bankruptcy lawyers understand that every case is different, so we take the time to properly understand the facts, evidence and surrounding circumstances of your situation. We’ll consider your legal position based on the current state of relevant law, and determine the best strategy to protect your interests.

Through our in depth understanding of the law, our empathetic approach and our ability to tailor our advice to your particular needs, we can help you move forward.

The MV difference

No matter how unique your circumstances are, our bankruptcy lawyers can assist you with guidance and advice around bankruptcy. We deliver advice in plain English in relation to your legal position, the next steps, and our recommendations, which are tailored to your situation and based on our expertise.

No matter how unique your circumstances are, our bankruptcy lawyers can assist you with guidance and advice around bankruptcy. We deliver advice in plain English in relation to your legal position, the steps in the process, and our recommendations which are tailored to your situation and based on our expertise.

If you are a creditor, we can help you:

  • prepare Bankruptcy Notices
  • Negotiate with the debtor
  • prepare Creditor’s Petitions
  • prepare Proofs of Debt
  • negotiate and liaise with the trustee in bankruptcy about the debt at issue.

If you are a debtor or bankrupt, we can help you:

  • negotiate with a creditor threatening to make you bankrupt
  • negotiate and liaise with your trustee about issues arising in your bankruptcy
  • prepare applications to set aside a Bankruptcy Notice
  • prepare applications to set aside, or review, a Sequestration Order
  • prepare section 73 composition proposals and negotiate with relevant parties
  • prepare and liaise with relevant parties about any debt arrangements, personal insolvency agreements, or annulment proposals by you

 If you are a joint property owner, we can help you:

  • negotiate and liaise with the trustee in bankruptcy about the jointly owned asset
  • negotiate, prepare and implement deeds of agreement or sale of assets
  • prepare applications for appointment of trustees for sale

If you are a trustee in a bankruptcy, we can help:

  • advise you about legal issues arising in the bankruptcy, including voidable transactions, access to superannuation, competing property interests and after-acquired property of the bankrupt
  • negotiate, prepare and implement deeds of agreement or sale of assets
  • prepare applications for declarations and consequent orders under sections 120, 121, 121A and 122 of the Bankruptcy Act 1966 (Cth)
  • prepare applications for delivery up of vacant possession of property
  • prepare applications for appointment of trustees for sale.

Be empowered to move forward with advice and services from our award-winning disputes law team.

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