Published on 21 Oct 06
by TASMANIAN DIVISION, THE TAX INSTITUTE
People have long sought to protect their personal and business assets by separating ownership from risk. However, the Government now seems committed to giving creditors greater access to assets (including superannuation) controlled by a bankrupt and their associates. The Government’s proposals have brought into question the ongoing effectiveness of common asset protection strategies. This presentation focusses on:
- the current bankruptcy rules and common asset protection strategies
- the content and current status of the Government’s proposals
- the 2005 ‘Bankruptcy and family law’ amendments
- the likely impact of the above on asset protection strategies going forward.
Paul Cook is a Chartered Accountant and a Director of Paul Cook & Associates, a boutique insolvency and reconstruction firm. his professional expertise is based on a sound understanding of accounting practices,
a wealth of relevant industry experience, and excellent knowledge of legal issues relating to reconstruction
and highly developed leadership, mediation and interpersonal communication skills. Paul’s experience spans
both private and government sectors, including professional assignments at state and federal levels and first hand experience witha major international accountancy firm. Paul is the immediate past President of
the Insolvency Practitioners Association.
- Current at
02 September 2010