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Bankruptcy and the family court: tearing apart the wedding cake

Published on 01 Sep 05 by "TAXATION IN AUSTRALIA" JOURNAL ARTICLE

The need to use different courts at different times when dividing a couple's assets on separation when one spouse was or becomes bankrupt has given rise to some strongly criticised strategies which could either defeat creditors or could defeat the hated spouse. Now the spouses and the creditors including the ATO and/or the trustee in bankruptcy will tear apart the 'wedding cake' in the Family Court at the same time. This article is an introduction to the revolutionary changes.

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Author Photo - Arlene MACDONALD
Arlene MACDONALD

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