law. Debt agreements were introduced into Australian personal insolvency law in 1996 as an alternative to bankruptcy. This … alternative to bankruptcy …

highly sceptical about the value of debt agreements, or ‘Part IX' agreements. By contrast, they generally saw bankruptcy as a … regarding the long term impact of bankruptcy upon severely disadvantaged debtors. Several expressed the view that bankruptcy … disadvantages, such as mental illness. Instead, for people in this situation, bankruptcy offers little more than a temporary …

territoriality' -- in which assets are adjudicated by the jurisdiction in which they are located at the time of the bankruptcy …