New quarterly Insolvency and Trustee Service Australia results have shown a decrease in bankruptcies in the September 2011 quarter, recording a decrease by 9.3 per cent compared to the same time last year.

 

The new results show a fall of 531 bankruptcy applications, as well as a fall in total personal insolvency activity, which was down by 6.41 per cent.

 

“All states and territories with the exception of Western Australia and Tasmania recorded a reduction in bankruptcies in the September 2011 quarter when compared to the same period in 2010,” Attorney-General Robert McClelland said.

 

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