ITSA 4th National Bankruptcy Congress

1

• ITSA 4th National Bankruptcy Congress
• Debt Agreements - Are they Working?
• Ross Griffiths
• General Manager
• Commonwealth Bank

2
Overview

• What is CBG looking for
• ITSA statistics
• CBG experience
• Proposed changes to the Act
• Conclusion

3
What is CBG looking for?

• Simplicity
• Reliable/accurate information
• Appropriate outcomes
• Low cost of Administration
• Satisfactory return
• Limit recurrence

4
ITSA Statistics
5
ITSA Statistics

• Queensland Experience 2001/2002
• Part IX - 1,184 (36)
• Part X - 194 (41)
• Bankruptcy - 6,520 (27)

6
CBG Experience

• IXs
• Xs
• Bankruptcies
• General approach

7
Proposed changes to Act

• Debt agreement income levels
• Early discharge

8
Conclusions

• Are Debt Agreements Working?
• How to improve them
• variable parameters