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Bankruptcy and the implications for asset protection paper

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Unless expressly stated, opinions are not that of The Tax Institute, which accepts no responsibility for the accuracy of any of the information contained within it.

Published on 24 Nov 06 by NATIONAL EVENTS, TAXATION INSTITUTE OF AUSTRALIA

How do we assist clients to protect the wealth we help them generate? In recent years there has been a concerted push to enable assets to be recovered in bankruptcies. This paper will examine:

  • using trusts to optimise asset protective structures
  • competing issues when designing asset protection for clients
  • implications of the High Court decision in Cummins’ case and proposed anti-avoidance provisions
  • use of international trust structures for asset protection.

Author profile

Michael Lhuede
Photo of author, Michael LHUEDE Michael specialises in corporate and personal insolvency law. Michael acts for Australia's leading banks and secured lenders and for liquidators,administrators and receivers advising in all aspects of corporate insolvency and workouts. He has also conducted some of Australia’s most complex bankruptcy cases. Michael regularly advises boards and directors of listed and unlisted companies in relation to their duties upon insolvency and the restructuring of financially stressed businesses. For the past four years Michael has been named in "Best Lawyers •Australia" in the Insolvency and Reorganisation category, being named Best Lawyer •Victoria for that category in 2012. He is a member of the Insolvency Practitioners Association of Australia and of the Insolvency & Reconstruction Committee of the Law Council of Australia and the co-author of a chapter of Personal Property Securities in Australia published by Lexis Nexis. - Current at 27 July 2012
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This was presented at 14th National Tax Intensive Retreat: Trusts Under the Microscope .

Get a 20% discount when you buy all the items from this event.

Individual sessions

Trusts revisited

Author(s):  John W DE WIJN

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Small business CGT concessions and related trust issues

Author(s):  Mark PIZZACALLA

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Workshop 1: CGT small business concessions

Author(s):  Moira MERRICK

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Trust distributions

Author(s):  Peter ALLEN

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Testamentary trusts: not just 'another' trust

Author(s):  Arlene MACDONALD

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Amending trust deeds

Author(s):  Grahame Young

Materials from this session:

Workshop 2: Trust distributions, testamentary trusts and amending trust deeds

Author(s):  Andrew Noolan

Materials from this session:

Bankruptcy and the implications for asset protection

Author(s):  Michael LHUEDE

Materials from this session:

International trusts

Author(s):  Campbell RANKINE

Materials from this session:

Further details about this event:

 

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