Annulment of Bankruptcy Information
An annulment of bankruptcy is a legal dictum that cancels out the bankruptcy order issued against an individual by a judicial body. However, only a judicial body such as a court, for example, has the authority to issue an annulment order. An important part of the annulment of bankruptcy is an appointment with a relevant authoritity, such as the Official Receiver.Application for Annulment of Bankruptcy
An individual may apply for an annulment of bankruptcy, subject to certain conditions. For instance, an individual voluntary arrangement has taken place between the deptor and his creditors or if all debts have been paid off.Methods of Application for Annulment of Bankruptcy
There are legal formalities that need to be completed for the application for annulment of bankruptcy. For example, the bankrupt individual needs to take application forms from the relevant court, make affidavits, and send these documents to the court.The methods of application for annulment of bankruptcy depend on specific circumstances. For example, the method of application in the case of full payment of debts would differ from the application used if an individual voluntary agreement had been reached.
