Bankruptcy involves the appointment of a bankruptcy trustee who control’s the bankrupt’s property and recovers property belonging to the bankrupt, for distribution to the bankrupt’s creditors.
The goals of bankruptcy involve, among other things:
The leadup to entering bankruptcy can be a long and stressful process, which does not necessarily end with the appointment of a trustee. Oftentimes, trustees will take action against a bankrupt, family members or family trusts, in relation to property which may fall within the bankrupt estate. For this reason, we recommend that someone who is contemplating bankruptcy obtain legal and/or accounting advice prior to the appointment of a trustee. There are often steps which can be taken, prior to the appointment of a trustee, which can minimise or eliminate legal problems arising after a trustee is appointed.
Our experience includes:
Our lawyers have extensive experience across all facets of insolvency law. While we predominantly act for bankruptcy trustees, we also accept instructions from individuals and family members seeking guidance or representation through bankruptcy processes and Court proceedings.
Contact Gear & Co to find out how we can assist you.