Significant changes to the Bankruptcy Act will mean greater powers to trustees to claw back assets transferred to related entities and third parties. These changes will impact on asset protection strategies and wealth accumulation strategies for high net worth individuals. This session will focus on:
- Changes enacted by the Bankruptcy Legislation Amendment (Anti-Avoidance) Act 2006
- Changes to apply from July 2006 upon enactment of the Bankruptcy Legislation Amendment (Superannuation Contributions) Bill 2006
- Recent decisions in the area of bankruptcy and what they mean for clients
- The scope of legal professional privilege in the context of advice given by advisors on asset protection strategies