Insolvency Law in Australia

Tue, 07 Jul 2026 00:00:00 +0000

Overview of Australian Insolvency Law

Australian insolvency law is bifurcated into two distinct regimes: personal insolvency governed by the Bankruptcy Act 1966 (Cth) and corporate insolvency governed principally by the Corporations Act 2001 (Cth). Both regimes share common conceptual foundations — the equitable distribution of a debtor’s available assets among creditors, the investigation of the debtor’s affairs, and the rehabilitation or discharge of the debtor — but operate through separate statutory frameworks, institutions, and professional communities. The Commonwealth Parliament’s legislative power over insolvency derives from s 51(xvii) of the Constitution, which confers power to make laws with respect to “bankruptcy and insolvency.”

Insolvency Law on ExcellentWiki - Legal Encyclopedia

Insolvency Law in Australia

Overview of Australian Insolvency Law