The rescission of a Bankruptcy Order is normally only granted where there has been a change in circumstances since the bankruptcy order was made or, occasionally, where there has been a discovery of further evidence. The effect is to cancel the Bankruptcy Order.
The grounds upon which the Court will consider rescission are very similar to the circumstances in which it would allow an annulment (see annulments) and would include, for example, a situation where no sum is outstanding to the petitioning creditor. The Courts powers to rescind are both discretionary and wide and it will not be bound to rescind unless it is satisfied there are good reasons for doing so. However the discretion is exercised with caution and only in exceptional circumstances.
If an application is to be made for rescission, it is important to act quickly so that the Trustee (Official Receiver) can be contacted and asked to suspend carrying out his obligations to advertise the order in the local newspaper and London Gazette.
FDL Solicitors has extensive experience in dealing with applications for rescission of bankruptcy orders.
An initial no obligation telephone discussion is free, so why not call or email David Cousen.
T: +44 (0)161 833 0578
E: david.cousen@fdl-law.co.uk
