What Effects Will Bankruptcy Have?

Bankruptcy Lawyers Brisbane

Know the effects of bankrupcty from bankruptcy lawyers in Brisbane

Until the bankrupt is discharged from bankruptcy they are prohibited from performing certain roles/carrying out certain duties, also there are crucial and compulsory duties to which they must comply according to our bankruptcy lawyers. These include-

1. Making all divisible assets and their relevant information available to trustee.
2. Surrender of passport/s to the trustee.
3. Making all books, records, financial statements available for their personal as well as corporate entities such as trusts etc.
4. The bankrupt cannot act as a company officer.
5. The bankrupt cannot trade under a registered business name without evidently advising people of their bankruptcy.

Consult with one of our bankruptcy lawyers in Brisbane today!