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yes that makes sense. I do know of people who ASIC or whoever has banned them from being directors for 5-7 years ok, lets just point out, for this person in this example, the fact that the bank has taken over means the financial position is bad, I doubt any sane person with a personal...

yes my original question, maybe i was bit ambiguous, was that in what typically happens with bank repos is that owners stop paying their mortgage, and basically disappear or try to (typical human defensive behaviour). once the bank realises that its not going to sort itself, they come in and...

this is my undestanding, for a one man operation who is a director of a pty ltd company, they have a personal guanratee attached automatically to it, so if its bought under a company and all turns sour, they will be personally repsonsible however, if the banks reposess, they will try and...

the legalities of bankruptcy isnt my strong point, I was looking at a property for sale and realised its a person I used to know professionally for a short period of time, who owns it anyway, assuming its a one man operation, and they are a single director, they have purchased a...