Practical Law Insolvency and Restructuring has published the following new resources which provide detailed guidance on key aspects of the personal insolvency agreement process:

• Practice note, Entering into a personal insolvency agreement, which considers the principles, practice and procedures that apply in relation to a debtor's entry into a personal insolvency agreement (PIA). It addresses the role of the Australian Financial Security Authority in relation to PIAs, the purpose of a PIA, who is eligible to propose and enter into a PIA, the relevant procedure for proposing and entering into a PIA, the administration of a PIA (in overview) and the effect of a pending creditor's petition where a debtor initiates the PIA procedure.
• Practice note, Meeting of creditors to vote on a personal insolvency agreement proposal, which considers the principles, practice and procedure relating to a meeting of creditors to vote on a personal insolvency agreement proposal under Part X of the Bankruptcy Act 1966 (Cth), including the timing of the meeting, the procedure for calling the meeting, notifying creditors of the meeting, determining who can vote, conduct of meetings, discussion about the proposal and special resolutions and the outcomes after a meeting.
• Practice note, Ending a personal insolvency agreement, which considers the ways in which a personal insolvency agreement will end, including by setting aside or termination by the court, termination by the trustees or the creditors and termination when the debtor has fulfilled their obligations under the agreement.
• Checklist, Advantages of a personal insolvency agreement for debtors and creditors, which sets out the advantages of a personal insolvency agreement for debtors and for creditors.

These resources further expand Insolvency and Restructuring module’s personal insolvency content.