Question

Consider which of the debts listed below a

bankruptcy ends.

Please assume all the were debts incurred before the date of bankruptcy.

For each debt explain why it is provable or is non provable, citing the relevant sections of the Bankruptcy Act and Bankruptcy Regulations to support your answers.

Business Liabilities

Business Loan - Westpac $30,000 holds

Perfected PPSR Secunty interest over

Industrial Heating equipment

Australian Taxation Office $8000

Supplier Yoga Mats and Accessories $11,000

Rent owing on the lease. $4,200

Non-Business Liabilities

Skye's personal credit card $3200 owing

Skye's HECS Debt 2,400

Council property rates on the family home

$1800

Court Fines imposed on Skye for breach

Health and Safety requirements in regard to

the Yoga/Pilates/Gym Schoo