Ending bankruptcies

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 2018–19, there were 85 section 74 annulments.

Section 153A annulments occur when a bankrupt pays all his or her debts in full. In 2018–19, there were 332 section 153A annulments.

Section 153B annulments occur when a bankrupt successfully applies to the court for an order annulling his or her bankruptcy. In 2018–19, there were 13 section 153B annulments.  

Type of annulment

Number of annulments in 2017–18

Number of annulments in 2018–19

Notices (s.74(5A))

82

85

Certificates (s.153A)

354

332

Applications (s.153B) to Federal Court with a result of granted

7

13

Objections to discharge

Consistent with previous years, most objections to discharge extended bankruptcy to eight years in 2018–19. There were 37 objections to discharge extending bankruptcy by five years, and 1,382 objections to discharge extending bankruptcy to eight years.

Objections filed by:

Number of objections extending bankruptcy to five years: 2017–18

Number of objections extending bankruptcy to five years: 2018–19

Number of objections extending bankruptcy to eight years: 2017–18

Number of objections extending bankruptcy to eight years: 2018–19

Official Trustee

8

9

624

884

Registered trustees

23

28

495

498

Total

31

37

1,119

1,382