Commonwealth Consolidated Acts Commonwealth Consolidated ActsA 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.