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ARTICLE · 02 SEPTEMBER 2024

Changes to Australia's bankruptcy laws

Bartier Perry Solicitors
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This article summarises some of the proposed key reforms following the Attorney General's announcements.

AustraliaInsolvency/Bankruptcy/Re-Structuring
Adam Cutri
Adam Cutri
David De Mestre
David De Mestre
Rezwan Attai
Rezwan Attai
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Australia's bankruptcy laws are facing extensive reforms in the near future. The Attorney-General, the Hon Mark Dreyfus KC MP, in a comprehensive review of Australia's insolvency legislation, recently announced several bankruptcy law reforms that are aimed at improving the outcomes for individuals facing personal insolvency situations.

This article summarises some of the proposed key reforms following the Attorney General's announcements.

Background

On 2 March 2023, a national roundtable was convened by the Attorney-General to allow for key stakeholders to identify the potential key areas for required bankruptcy reform.

Following the national roundtable, the Attorney-General identified four short term priorities to meaningfully improve the Australian personal insolvency system and progress amendments to the Bankruptcy Act 1966 (Cth) (Bankruptcy Act). These reforms are intended to ensure that Australia's bankruptcy system is fairer and operates in the best

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