Commonwealth Consolidated Acts

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Terminating a debt agreement by the bankruptcy of the debtor

    A debt agreement is terminated if the debtor becomes a bankrupt.

Note:   Despite section   185K, there are a number of ways in which a debtor who is a party to a debt agreement could become bankrupt. For example, the debtor could become bankrupt on a debtor's petition if the Court gave permission for the debtor to present, or join in presenting, the petition, or the debtor could become bankrupt as a result of the presentation of a petition against a partnership.

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