Statement of the Public Policy Objective
The key public policy objective for bankruptcy law reform is to:
- Simplify and modernise the law relating to bankruptcy;
- Maximise the returns to creditors by providing flexible and effective methods of bankruptcy administration;
- Provide a regime that effectively targets consumer debtors as well as business-related debtors; and
- Provide a procedure for debtors that will enable them to participate fully in the economic life of the community.
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