Annulments from Bankruptcy

Under the Insolvency Act 1986, there are three ways that you are released from bankruptcy.

  1. That the Official Receiver or your Trustee applies for your early discharge.
  2. That on the first anniversary of the date you were adjudged bankrupt, you receive your Automatic Discharge.
  3. Either you, the Official Receiver or your Trustee applies for an Annulment in Court upon the commencement of an Individual Voluntary Arrangement (IVA).

There are 3 reasons that Annulment will be granted

a) That the Bankruptcy Order ought not to have been made.

b) That the Bankrupt has secured or discharged all his/her debts and expenses in full, to the Court’s satisfaction and

c) Upon acceptance of an IVA


This case was a basic case of a sole trader that had substantial debts mainly to HMRC and trade creditors and was “insolvent” i.e. unable to pay his debts as and when they fell due.  The bankrupt (BKT) had no assets when he was made bankrupt.  Two weeks before his Automatic Discharge from bankruptcy, the BKT’s sister died and behest a large sum of money to the BKT in her Will. Under the Insolvency Act 1986, the money automatically vested in his insolvent estate. He had 21 days to notify his Trustee, in his case, the Official Receiver.

With Breathe’s assistance, the probate solicitor and the co-operation of the Official Receiver, we orchestrated the payment of all his creditors in full and final settlement and applied to have his bankruptcy annulled.  The BKT saved a substantial amount of money and got the outcome that he desired.

Now not everyone is going to be in the same position, because everyone’s situation is different, but with Breathe Financial you can rest assured that everything that can be done within the law, will be done.

Not only can you lose if you chose the wrong reason for annulment, you could do something procedurally incorrect… Why take the gamble?

Need to annul your bankruptcy?

Contact us – Call on 0208 123 3697 or email on, to discover if we can help you.

How can we help you?

We promise to always act ETHICALLY, with INTEGRITY in all our dealings and to maintain our high standard of customer care.

Thank you, now I know why you named your company Breathe….

Kemi Balogun