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 2017–18, there were 82 section 74 annulments.

Section 153A annulments occur when a bankrupt pays all his or her debts in full. In 2017–18, there were 354 section 153A annulments.

Section 153B annulments occur when a bankrupt successfully applies to the court for an order annulling his or her bankruptcy. In 2017–18, there were seven section 153B annulments.
 

Type of annulment Number of annulments in 2016-17 Number of annulments in 2017-18
Notices (s.74(5A)) 104 82
Certificates (s.153A) 373 354
Applications (s.153B) to Federal Court with a result of granted 13 7

Objections to discharge

Consistent with previous years, most objections to discharge extended bankruptcy to eight years in 2017–18. There were 31 objections to discharge extending bankruptcy by five years, and 1,119 objections to discharge extending bankruptcy to eight years.

  Number of objections extending bankruptcy to five years: 2016-17 Number of objections extending bankruptcy to five years: 2017-18 Number of objections extending bankruptcy to eight years: 2016-17 Number of objections extending bankruptcy to eight years: 2017-18
Objections filed by:        
Official Trustee 1 8 395 624
Registered trustees 17 23 420 495
Total 18 31 815 1,119