› Flat Chat Strata Forum › Levies and Unit Entitlements › chasing levies from overseas owners › Current Page
12/10/2021 at 1:42 pm
#59432
Past a certain amount, the debtor can be made bankrupt. In that case the court will order the sale of any assets, ie their unit, in order to repay the debt .
It’s worth having a look at this post by Bannermans Lawyers which explains how seeking bankruptcy could end up costing the owners corp more than they get in return.
However, in this case, my question would be whether or not you could declare a foreign entity bankrupt. I know the law changed on overseas investors recently but I can’t recall what it was.