The court provides further clarification on the distinction and appropriate use of rescission and annulment of a bankruptcy order

Key points

  • Where the underlying liability on which a bankruptcy order is made is subsequently set aside, the correct remedy is rescission under s.375(1) of the Insolvency Act 1986.

  • Annulment under s.282(1)(a) is the appropriate remedy when, on grounds existing at the time of making the bankruptcy order, the order ought not to have been made.

The facts

Filed under:
United Kingdom, Insolvency & Restructuring, Litigation, Taylor Wessing, Court of Appeal of England & Wales
Location:
United Kingdom
Firm:
Taylor Wessing