Practical Law Insolvency and Restructuring has released the following new resources which provide detailed guidance on key aspects of the bankruptcy process:

• Practice note, Trustee's powers to realise and otherwise deal with assets, which provides guidance on the powers of the trustee in bankruptcy to realise and otherwise deal with the bankrupt's assets, addressing the power of sale, the assignment of rights of action of the bankrupt and trustee, directions that may be made by the court in relation to the administration of the estate and when and how the assets of joint debtors or partners may be consolidated.
• Practice note, How a bankrupt's income is dealt with, which provides comprehensive guidance on how a bankrupt’s income is dealt with by the trustee in bankruptcy, addressing the contribution assessment period, income types and sources that are subject to (and not subject to) the contribution assessment process, the process of assessment by the trustee of the contributions liable to be paid by the bankrupt, and avenues for recovery by the trustee of unpaid contribution monies owed by the bankrupt.  It also links to relevant forms and other resources available from the Australian Financial Security Authority (AFSA).
• Practice note, Voidable transactions (bankruptcy): general principles, which considers in detail transactions that may be challenged by a trustee under the avoidance provisions in the Bankruptcy Act 1966 (Cth), the relevant time periods in which a trustee is able to challenge each type of voidable transaction, the key exemptions and defences to the avoidance provisions and the types of relief the trustee can seek.
• Practice note, Recovery of assets under a section 139ZQ notice, which addresses the principles, practice and procedure for the recovery of property for the benefit of the bankrupt estate through the issue of a notice under section 139ZQ of the Bankruptcy Act 1966 (Cth), including when and how the notice may be issued, formal and substantive requirements, service and effect of the notice on the recipient and when and how the notice may be withdrawn or amended by the Official Receiver or set aside by the recipient or an interested party.
• Practice note, Discharge and annulment, which provides detailed guidance on when and how a bankruptcy can be ended early by annulment (and the consequences of annulment), when a bankrupt will be discharged from bankruptcy (and the consequences of discharge),  when and how an objection to discharge can be made, and the setting aside of (or appeal from) a sequestration order.