This page is designed for Insolvency Practitioners and aims to answer some of the most common questions about our services. For further information that is not included on this page, please contact us.
What is Bravure’s role in the insolvency framework?
Bravure provides insolvency management services to many of our clients, including some of the country’s largest banks and financial service providers. These services include managing all or part of our client’s portfolio of personal insolvencies (which may include those exposures being dealt with under Bankruptcy Act 1966 (Cth) Pt IV, IX, or X).
These services are provided pursuant to services agreements with our clients. Clients would grant Bravure authority in a services agreement, and/or in a Power of Attorney or other document providing for an agency relationship (the engagement documents).
Bravure shares letters of authority with insolvency practitioners, signed by an authorised representative of the credit provider. These letters of authority provide insolvency practitioners with relevant information about the authority that is granted in the engagement documents.
Under a typical engagement
We would be responsible for exercising the creditor’s rights in relation to their debts, including:
- Submitting proofs of debt;
- Voting on proposals and variations;
- Attending meetings of creditors;
- Receiving dividends; and
- Dealing with other operational correspondence.
The scope of each engagement varies; for instance some relate only to certain insolvency types, and some relate only to certain portfolios. The terms of the letters of authority provide an accurate record of the scope of Bravure’s role for each creditor.
Who are our current clients?
For bankruptcies under Pt IV of the Bankruptcy Act, we service for:
- AGL Energy
- Cash Converters (including Green Light Auto Group)
- Commonwealth Bank of Australia
- Humm Group (including Once Credit, Lombard, Skye Card/Humm90, and all other Humm products)
- Latitude Financial Services (including Australian and NZ products)
- Origin Energy
- Panthera Finance
For Debt Agreements and Personal Insolvency agreements (under Bankruptcy Act 1966 (Cth) Pt IX and X), we service for each of these credit providers, and for many other credit providers not listed here.
Please contact Bravure at email@example.com to obtain copies of our current letters of authorities, as the terms of these engagements vary from one to the next.
Should all matters for Bravure clients be directed to Bravure?
Yes, you should direct all matters to Bravure as described in the letters of authority.
You will receive a response directly from Bravure, or for certain correspondence we will forward your request to the credit provider and they shall respond directly.
How will Bravure inform me about a new letter of authority or if an existing authority comes to an end?
Bravure will send notification to all Registered Trustees and Registered Debt Agreement Administrators using the contact information made available on AFSA’s website. We will also inform AFSA of any new engagements or changes in existing engagements.
How can I confirm the correct bank account details to pay dividends into for a Bravure client?
How can I engage more broadly with Bravure?
Across our engagements in the insolvency system, we aim to share information with stakeholders to help them to better engage with us and our clients.
Wherever possible, we are pleased to share information with Registered Trustees and Registered Debt Agreement Administrators around market trends and insights, and operational items. We are also interested in understanding how we can improve our services to stakeholders within the insolvency system.
To begin a conversation with the Bravure team on these topics, you are welcome to reach out to firstname.lastname@example.org or one of our team.