Consequences of bankruptcy

Analyse and report on the consequences of bankruptcy upon the parties involved.

You are to:

Identify the property that is available for distribution amongst creditors under the Bankruptcy Act and analyze the doctrine of relation back, undervalued transactions, transactions to defeat creditors, and undue preferences

Research and discuss the effects of bankruptcy, on the bankrupt, secured and unsecured creditors and the debtor's property

Compare the rights of secured and unsecured creditors, in relation to being paid

Identify and describe the circumstances in which a bankrupt can be discharged from bankruptcy, including the implications for the bankrupt and the creditors