Registered Liquidator, Registered Trustee, Restructuring Insolvency and Turnaround Professional, Chartered Accountant, Non-Executive Director, Podcast Host, Presenter
🎩🐎 Happy Melbourne Cup Day! While today is filled with excitement and racing, it’s also a good opportunity to consider the financial impacts of gambling. For some, it’s a once-a-year flutter, but for others, gambling can contribute to serious financial strain. 💸 In this latest "Ask Alice" episode, I dive into a timely question: How does gambling impact the bankruptcy process? From recent cases provided by the Australian Financial Security Authority (AFSA), I explore real-life examples that highlight when gambling-related debts can lead to serious legal implications under Section 271 of the Bankruptcy Act. Understanding these scenarios can help advisors and individuals navigate the complexities of insolvency when gambling debts are involved. 💬 My Tip: Early support and open communication are essential. Whether for a client or yourself, the National Gambling Helpline offers assistance at 1800 858 858. Disclaimer: This episode provides general information only and is not a substitute for legal advice. Catch the full "Ask Alice" episode https://lnkd.in/gTBWZWc8
