It has been two years since changes to the Bankruptcy Act caused a re-appraisal of asset protection strategies and the harbingers prophesised the end of many basic principles underlying effective asset structuring for clients. Yet, since then, and cases such as Cummins and Richstar, little appears to have changed in fact. This paper considers:
- the implications for trust structures arising from the 2006 Bankruptcy Act amendments
- an analysis of recent cases where the courts have been prepared to go behind trust and asset protection structures
- the fallout from the Cummins and Richstar cases
- the implications of the Family Law and Bankruptcy Act Amendments for asset protection strategies.