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Ending bankruptcies
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Once a debtor is bankrupt, his or her bankruptcy ends by either discharge or an annulment.
Annulments
Section 74 annulments occur when creditors accept a composition or arrangement to settle debts. In 2021–22, there were 84 section 74 annulments.
Section 153A annulments occur when a bankrupt pays all his or her debts in full. In 2021–22, there were 250 section 153A annulments.
Section 153B annulments occur when a bankrupt successfully applies to the court for an order annulling his or her bankruptcy. In 2021–22, there was 1 section 153B annulments.
|
Type of annulment |
Number of annulments in 2020–21 |
Number of annulments in 2021–22 |
|---|---|---|
|
Notices (s.74(5A)) |
99 |
84 |
|
Certificates (s.153A) |
255 |
250 |
|
Applications (s.153B) to Federal Court with a result of granted |
4 |
1 |
Objections to discharge
Consistent with previous years, most objections to discharge extended bankruptcy to eight years in 2021–22. There were 20 objections to discharge extending bankruptcy by five years, and 843 objections to discharge extending bankruptcy to eight years.
|
Objections filed by: |
Number of objections extending bankruptcy to five years: 2020–21 |
Number of objections extending bankruptcy to five years: 2021–22 |
Number of objections extending bankruptcy to eight years: 2020–21 |
Number of objections extending bankruptcy to eight years: 2021–22 |
|---|---|---|---|---|
|
Official Trustee |
5 |
2 |
711 |
422 |
|
Registered trustees |
15 |
18 |
468 |
421 |
|
Total |
20 |
20 |
1,179 |
843 |