Hi,
I feel that this is such an important question, and we’ve got no reply yet!
Body corporates are actually compelled to begin legal proceedings after 2 years (and not later than 2 years and 2 months) of overdue levies.
The following pages was helpful in detailing legal avenues (though in this case, it seems like you have already been through this part).
However these documents don’t explain what happens after you go to court.
This one might be the best information I’ve found so far:
Since the BC is an unsecured creditor, bankrupting the owner is only useful if there’s some money left over after everyone else has got ther share – and the BC is low in the list.
You would be better off if the mortgagee reposesses, then the purchaser pays outstanding BC debts and deducts that from the purchase price. They however (don’t seem to be) liable for your legal expenses in chasing the old debt.
Hope this helps a little,
Dallas