Essential Skills: Bankruptcy
Recoverable transactions

It’s not unusual for someone in financial distress to rearrange their financial affairs to retain effective use of their assets, or to favour their relatives or friends, in the event they are later declared bankrupt.

Fortunately, there are mechanisms within the legislation for setting aside those transactions for the benefit of the estate. Understanding the available options is a key skill for an insolvency professional.

This course provides a working knowledge of the Bankruptcy Act provisions which may allow a bankruptcy trustee to set aside a transaction and what elements the trustee will need to establish to be successful in a claim.

It covers the traditional preference recoveries and voidable undervalue transaction provisions, as well as setting aside payments into superannuation funds, trusts or transfers many years prior to bankruptcy.

Learning objectives

At the end of this course you will be able to:

• Analyse the operation of sections 118, 120, 121, and 122 of the Bankruptcy Act in relation to recoverable transactions.
• Evaluate the concept of void transactions under sections 128B and 128C, specifically focusing on superannuation.
• Understand the general defences to voidable transactions.
• Understand the recovery mechanisms for voidable transactions.
• Recognise and identify the principles behind Division 4A of Part VI – Controlled entities.
• Identify potentially voidable transactions under the specified sections of the Bankruptcy Act.

Course delivery

On-demand via ARITA Learning Centre

Cost

Individuals

$150 (GST incl.) for ARITA members and subscribers / Government
$250 (GST incl.) for non-members

Licensing packages

Flexible packages are available to suit firms of all sizes. You can purchase the entire suite of courses or specific subject areas. More information

CPE

Up to 0.9 verifiable CPE hours. 

Prerequisites

We recommend you complete the Introduction to Insolvency Program or have one year of on-the-job experience prior to attending this course.

Questions?

Contact our education team.

Please see our enrolment and cancellation policy .

See our full range of on-demand courses or find out more about our Essential Skills courses.