A bankruptcy annulment means cancelling the bankruptcy, and this can only be achieved by an order from the court.

You can apply for an annulment at any time if:

• The bankruptcy order should not have been made in the first place.
• All your bankruptcy debts, fees and expenses have been paid or secured.
• You have entered into an “Individual Voluntary Arrangement” with your creditors.

How do I Apply for an Annulment?

How you should apply for annulment will depend on which of the above three reasons your bankruptcy is being annulled. It is advisable to seek the help of a solicitor. Always discuss costs before proceeding. Use the Law Society website to find one that specialises in bankruptcy annulments.

How do I stop the bankruptcy order from being advertised?

Speed is essential if you wish to stop bankruptcy from being advertised. If you have applied for an annulment or think you will be able to apply for one, you may be able to apply to the court for a “stay of advertisement.”

You should telephone the court and state that you wish to apply for a stay of advertisement of the bankruptcy order. You should also inform the official receiver that you are making this application.

The official receiver must advertise the bankruptcy order in a newspaper and “The London Gazette” (an official publication containing legal notices). These actions can only be stopped by a court order.

What is the effect of the bankruptcy annulment?

An annulment has the legal effect that the bankruptcy order was never made. You will revert to your pre-bankruptcy status. Disposals of your property by the official receiver and the trustee will remain valid and will not be reversed. Any other assets will be returned, and you will be liable for any debts that have not been paid in the bankruptcy.