New bankruptcy guidelines on 1 July

New bankruptcy guidelines have been approved by the Queensland Law Society Council and start on 1 July 2025.

These are guidelines to be observed by the Society’s Council in exercising its discretionary powers pursuant to the Legal Profession Act 2007 (LPA) in relation to insolvent practitioners.

They are guidelines only. Regard must be had to the circumstances of each case.

Practitioners should be aware of their obligations upon becoming an insolvent under administration as set out in ss67 and 68 LPA.

All practising certificate holders becoming insolvent should use Form7 (LPA) to advise the Society and meet their obligation under s68(1)(a) LPA.