| Commentary

158 Effect of annulment

| Commentary

158 Effect of annulment

The principal effect of annulment is to return the party whose bankruptcy is set aside to his original position1. The individual concerned reverts to his former status and, for certain purposes, the bankruptcy is treated as though it had not occurred.

However, intermediate dealings which have created rights in third parties are not disturbed, thus any sale or other disposition of property, payment made, or other things done, under any provision of the Insolvency Act 1986 relating to insolvent individuals, by or under the authority of the Official Receiver or a trustee of the bankrupt’s estate or

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to LexisLibrary or register for a free trial