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The Old Bloke

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May 12, 2008, 10:50:23 PM5/12/08
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I asked this question on aus.invest.

If one is going into a business deal, is it possible for me to see if
someone has a bankrupt record?

Regards
Doug

TomTom

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May 13, 2008, 12:20:14 AM5/13/08
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In news:Pl7Wj.594$IK1...@news-server.bigpond.net.au,
The Old Bloke <gra...@microsft.com> typed:

See
http://www.itsa.gov.au/dir228/itsaweb.nsf/docindex/creditors-%3Enpii-%3Enpii?opendocument .

But it is easy for a person to set up the normal $2 company. If it goes
bust, the person is not bankrupted. It means that only the less
well-informed person is ever made bankrupt.


GerantSmythe

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May 13, 2008, 12:43:27 AM5/13/08
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"TomTom" <t...@invalid.com> wrote in message
news:g0b4qo$oh6$1...@news.albasani.net...

It appear you need the address, DOB and name, which you may not get if you
are dealing with them in business.


The Old Bloke

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May 13, 2008, 1:57:50 AM5/13/08
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"GerantSmythe" <ger...@hello.com> wrote in message
news:LOednY7vhobxgbTV...@supernews.com...
Thanks Gerant and TomTom. The more I think about it, the more unlikely I am
to find the info I need. And yes, it would have been a bankruptcy of a
private company rather than an individual. I only know the current address
which is almost certainly very new.

Thanks guys for the feedback.

Regards


peterwn

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May 14, 2008, 7:30:53 PM5/14/08
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On May 13, 4:20 pm, "TomTom" <t...@invalid.com> wrote:

>
> But it is easy for a person to set up the normal $2 company. If it goes
> bust, the person is not bankrupted. It means that only the less
> well-informed person is ever made bankrupt.

Except that lenders will look for personal guarantees, and so may
trade creditors eg landlords (almost universal practice), phone
companies, power companies, etc.

A business owner may be able to minimise such exposure with a high
interest low doc loan and seeking out as far as possible suppliers who
do not wnt cash on the nail or personal guarantees.

TomTom

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May 14, 2008, 7:48:48 PM5/14/08
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In news:1f9604a9-85c7-4e74...@l17g2000pri.googlegroups.com,
peterwn <pet...@paradise.net.nz> typed:

Ok. So the person concerned, taking advice, ensures that they have no assets
that can be attached by creditors. The assets are held by a $2 company in
the usual way. A personal guarantee is then worthless, and there is no
point in bankrupting such a person. Agreed?


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