Debt-affected Pilbara property and business owners suffering in the wake of the end of the mining boom could be some of the biggest winners if new legislation is passed relating to bankruptcy.
A Bill amending the Bankruptcy Act, introduced into Federal Parliament last month, would reduce the term people would be subject to bankruptcy from the current three years to only 12 months, and is expected to make debts easier to dissolve and banks more willing to negotiate alternatives to bankruptcy.
Karratha-based financial adviser, Financial Services m…
Read the full article at: https://thewest.com.au/news/pilbara-news/bill-aims-to-help-bankrupts-ng-b88653927z
