A bankruptcy notice must be based on a final judgment or order for at least $5000 which is no more than six years old. A bankruptcy notice can be based on more than one judgment or order (all involving the same creditor) as long as the total of all the judgments is at least $5000.
Australian Financial Security Authority Practice and Policy Statements
Here you will find a list of Policy and Practice Statements from AFSA that may assist you with your casework.
Legislation covering Part IX Debt Agreements.