We regularly advise people, directors, companies, business owners and officers who are involved in external investigations and prosecutions, related to bankruptcy crime, brought by Commonwealth and stage agencies.

Bankruptcy Offence Lawyers in NSW

Our Criminal Law Team can assist you with matters related to bankruptcy offences, we have the experience and expertise necessary to ensure you receive the best possible outcome.

We’ve been defending the people of Newcastle, Lake Macquarie, Central Coast and the Hunter region since 1969 and have helped our clients to achieve the best possible outcomes in all Criminal Law matters.

We are used to dealing with the Police, and know all the ‘ins and outs’ of the Courts and Justice system.

If you have been charged with this type of crime, contact our Criminal Law Team today to book a teleconference or appointment. We’ll fight vigorously to protect your freedom and rights.

What is a bankruptcy offence and what are the penalties?

A bankruptcy offence occurs when:

  • a false statement/declaration is made to the trustee – max. penalty: 12 months imprisonment and/or $6,600 fine
  • credit is obtained, without disclosing bankruptcy (fraud) – max. penalty: 3 years imprisonment and/or $19,800 fine
  • property is obtained, without disclosing bankruptcy (fraud) – max. penalty: 3 years imprisonment and/or $19,800 fine
  • property is concealed from creditors – max. penalty: 3 years imprisonment
  • a false affidavit is provided – max. penalty: $200 fine or 6 months imprisonment for summary offence; up to 4 years imprisonment for indictable offence
  • a bankrupt gambles or does anything financially rash or hazardous (even within 2 years prior to their bankruptcy) – max. penalty: 1 year imprisonment
  • a bankrupt fails to attend Court
  • a bankrupt leaves Australia with the intent to defeat creditors – max. penalty: 3 years imprisonment

These offences all fall under the Bankruptcy Act 1966. This act has been revised and strengthened over the last decade to ensure that bankrupts receive significant penalties for concealing property in order to try and defeat and/or cheat their creditors. Bankrupts can be charged with this type of offence even before the commencement date of bankruptcy, i.e. if they try to conceal property in the lead up to declaring bankruptcy.

These offences are serious and they can lead to imprisonment for up to three years.

Note that while fines are listed as possible penalties for some of these offences, they are an unlikely result.

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