Bankruptcy Flashcards
1
Q
Insolvency
A
X
2
Q
How can I be sequestrated ?
A
X
3
Q
How does sequestration work?
A
X
4
Q
How long does it last?
A
X
5
Q
Practically insolvent
Absolute insolvent
Apparent insolvency
A
X
6
Q
Who can be made bankrupt ?
A
X
7
Q
Can I apply for bankruptcy
A
X
8
Q
To apply
A
X
9
Q
How can a creditor make someone bankrupt?
A
X
10
Q
What happens after bankruptcy is awarded ?
A
X
11
Q
Who is the trustee?
A
X
12
Q
What does a trustee do?
A
X
13
Q
My responsibilities
A
X
14
Q
Assets
A
X
15
Q
Home
Own
Jointly own - exception
Rent
Hire purchase
Life policies
A
X
16
Q
What happens to money collected by trustee?
A
X
17
Q
Bankruptcy end sooner?
A
X
18
Q
What happens on discharge?
A
X
19
Q
Debt after discharge?
A
X
20
Q
Assets after discharge?
A
X
21
Q
Alternatives to bankruptcy?
A
Debt arrangement scheme
Trust deed
22
Q
Gratuitous Alienation s98
A
X
23
Q
Unfair preference s99
A
X
24
Q
Consequences of bankruptcy
A
X
25
Q
Advantages of bankruptcy
A
X
