How we help trustees

 

Official Receiver notices

Official Receiver notices help trustees to gather information or recover assets. The Official Receiver issued 952 notices in 2017–18. Consistent with previous years, the most common type of notice is s. 77CA notices to obtain a statement of affairs (51% of total notices in 2017–18).
 
Section of the Bankruptcy Act Type of statutory notice Number of notices issued 2016-17 Number of notices issues: 2017-18
s. 77AA Access by Official Receiver and others to premises 0 0
s. 77C Obtain information and evidence 207 213
s. 77CA Obtain statement of affairs 443 489
s. 81A Offshore information notices 1 2
s. 139ZQ Notice requiring payment following void transaction 21 33
s. 139ZL Payment of contribution liability 189 213
s. 139ZR Charge over property 5 2
Total   866 952
 

Commonwealth funding assistance

Section 305 of the Bankruptcy Act allows the Commonwealth to underwrite the cost of proceedings or enquiries about the estate or the examinable affairs of a bankrupt or personal insolvency agreement debtor. Further information on this is available in our guide.

In 2017–18, there were 15 applications for Commonwealth funding assistance approved, with $125,996 underwritten.

  2016-17 2017-18
Number of applications received 17 19
Number of applications approved* 14 15
Amount underwritten ($) $95,555 $125,996
Expenditure ($) $74,818 $70,970

*These figures include all applications approved in the financial year, irrespective of whether they were lodged in that year.