Posts Tagged "super annuation"

Superannuation in Bankruptcy

Posted by admin on Apr 8, 2010 in Bankruptcy | 4 comments

Superannuation is a protected asset in bankruptcy.  If you file for bankruptcy, your trustee generally can’t access your super to pay out your creditors.  This makes good sense for the majority of bankrupts given that super will be relied upon to fund retirement.  However I’m sure you can see this poses a way for creditors to be defrauded by someone deliberately making extra super payments or lump sum payments prior to bankruptcy. Since July 2006, Trustees have been able to void transfers to superannuation.  To void a transaction the trustee must show that: The transaction happened; The transaction occurred within a specific time period, or while the...