AFSA is enhancing its intelligence capability to help understand potential harms and risks in both the insolvency and PPSR systems and to monitor trends. The work includes:
- Reviewing and analysing objections (to discharge from bankruptcy) data for the past five years
- Liaising with Registered Trustees (RTs) to gain their perspective and insight into issues affecting the industry including potential harms
The first project looked at various aspects of the objection process including usage by trustees, why objections are used heavily by some trustees and less often by others, and whether objections lead to corresponding offence referrals. A sample of RTs were asked to share their ideas about how the system could be improved. Thank you to all trustees that participated and we are currently preparing the implementation plan.