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The annulment can take place in the following three ways:

• You can apply for annulment of bankruptcy order any time provided a bankruptcy order should not been made. This may happen when proper steps required in obtaining the orders have not been followed.
• You have paid all the fees and expenses of bankruptcy proceedings in full or their payment has been guaranteed to the satisfaction of the court.
• • You have opted for Individual Voluntary Arrangement with your creditors to repay all or part of your debts.

How can you apply for an annulment of bankruptcy order?

You can apply for an annulment order if the bankruptcy order has not been made (application under section 282(1)(a) of the Insolvency Act 1986). If that is so, you can:

• Get an application form from the court that deals with your bankruptcy case.
• File an affidavit before a solicitor, or, a witness statement verified by a statement of the truth stating why the bankruptcy order should not have been made.
• Send the completed form and affidavit or the witness statement verified by a statement of the truth to the court. The court, if satisfied, will fix a date for hearing your application.
• Inform the Official Receiver about the date, time and place of the hearing of your application before the hearing takes place. This information is necessary because it is the Official Receiver who petitions for your bankruptcy and he is also the trustee in your bankruptcy case. You should also provide the Official Receiver the copies of your application and affidavit or a witness statement verified by a statement of the truth.
• The Official Receiver will, then, send a report to the court confirming that you have paid your debts or have provided adequate security to your creditors. The report will also comment on your conduct in bankruptcy.

You can also apply for annulment if your creditors have agreed to an Individual Voluntary Arrangement—IVA (application under section 261 of the Insolvency Act 1986). As per this law, the insolvency practitioner will call a meeting with your creditors to apprise them of your willingness to repay their debts along with all the necessary details. If the creditors agree with your offer to pay them, their decision will be submitted to the court. You can apply to the court for an annulment of bankruptcy within 28 days of the meeting.