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Insolvency & Restructuring

December 22 2017
Court provides further clarification on distinction and appropriate use of rescission and annulment of bankruptcy order

United Kingdom - Taylor Wessing

A recent Court of Appeal case has clarified that where the underlying liability on which a bankruptcy order is made is subsequently set aside, the correct remedy is rescission under Section 375(1) of the Insolvency Act. Further, annulment under Section 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.

Author: Katherine Hudson
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