LWN801 Lecture Notes - Lecture 1: Small Business, Automatic Stay, Ansett Australia

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24 Jul 2018
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It is within the umbrella of insolvency law, but is a discrete entity of its own. The individual debtor is a human, and accordingly ascribed with legal rights which would. Personal insolvency = bankruptcy never be contemplated in the case of a debtor company or other body corporate. General themes and similarities of terminology have run through the various acts and align with bankruptcy law in other common law jurisdictions. This is the same with other types of law, such as contract. Older bankruptcy statutes concentrated on strict administration, in a more punitive manner. During the 19th and 20th centuries, the process changed, having more of a focus on debt-clearing for business. Model of bankruptcy based on consumer protection developed. This aligns with the model of bankruptcy as part of social welfare law. Used to be administered through the court registries, then placed under the department of justice, then the ministry for economic development.

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