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

• Practice note, Debt agreement administrators: registration, duties, and regulation, which considers the duties, powers and regulation of debt agreement administrators. It addresses the process for application for and registration as a debt agreement administrator, the duties attaching to the role and the scope of the Inspector-General's powers to regulate debt agreement administrators.

• Practice note, When and how to propose a Part IX debt agreement, which explains when and how the debt agreement process may be used by a debtor under Part IX of the Bankruptcy Act 1966 (Cth). It addresses the purpose and effect of a debt agreement, the process for proposing a debt agreement, when a debtor is disqualified from using a debt agreement and the effect on a bankrupt of giving a debt agreement proposal. It also considers when and how the Official Receiver will accept a debt agreement proposal for processing, restrictions on creditor action after acceptance of a debt agreement proposal by the Official Receiver and when a debt agreement proposal may be withdrawn or cancelled, or lapses.

• Practice note, Ending a debt agreement, which considers when and how a debt agreement can end, including by successful completion of all obligations under the agreement, early termination without court involvement in certain circumstances or court declaration that the agreement is void or termination order.

• Checklist, Quick guide to the effect of a Part IX debt agreement on the debtor and key stakeholders, which explains the key impacts and consequences of acceptance of a Part IX debt agreement by the debtor's creditors, including the immediate effect of acceptance of a debt agreement proposal by creditors, the release of the debtor from provable debts, the moratorium on creditor proceedings and distribution of property to creditors. It also considers when and how a debt agreement can be varied.

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