We are leaders in the field in annulling bankruptcy orders. There are various grounds for annulling a bankruptcy order, including arguing that a bankruptcy order ought not to have been made or by making payment to creditors in full.
We assist in making applications to the court to allow the release of equity or for bankrupts to sell their properties as this requires the court’s permission as the bankrupt’s assets belong to the Official Receiver/Trustee from the moment the bankruptcy order is made.
We make urgent applications to the Court to prevent a Trustee in Bankruptcy from being appointed as Trustees incur sizeable costs in investigating the bankrupt’s financial affairs.
A bankrupt is known as “an undischarged bankrupt” during the term of his bankruptcy. The bankruptcy normally comes to an end after a year from the making of the bankruptcy order by “automatic discharge”. A person is then known as a “discharged bankrupt”. However, a Trustee in Bankruptcy may decide to make an application to the court to prevent the bankrupt from obtaining his discharge i.e. suspending discharge, usually because the Trustee argues that the bankrupt has not co-operated. However, if an annulment is obtained, the person is seen never to have been made bankrupt as the annulment completely wipes out the bankruptcy.
We advise clients on how to best obtain an annulment of their bankruptcy.