Do I need a lawyer to get my bankruptcy cancelled?
Yes, taking advice from solicitors or an insolvency practitioner is recommended and often necessary when the annulment of a bankruptcy is required. In circumstances where the debtor has funds to discharge the bankruptcy, a solicitor’s undertaking will often need to be provided before the Court will annul a bankruptcy.
What is a solicitor’s undertaking?
A solicitor’s undertaking is a commitment by a solicitor to do something, cause something to be done or abstain from doing something.
When applications are made on the basis that the debts and expenses of the bankruptcy have been paid or secured to the satisfaction of the court, often the court will require a solicitors undertaking to reflect the same. A solicitor may undertake that the bankrupt has paid all of the debts and expenses of the bankruptcy or that they hold the funds on account in order to do so.
A breach of a solicitor’s undertaking bears severe consequences therefore the court will place great weight on the same.
It is important to:
- ensure your application to annul a bankruptcy is correct and compliant with the relevant rules and legislation;
- liaise and co-operate with the Official Receiver; and
- present your case to the court.
These steps are best done by solicitors with experience of and familiarity with the procedure and Insolvency Rules.
Book an Initial Consultation with Expert Bankruptcy Solicitors and Barristers
We are a specialist City of London law firm made up of Solicitors & Barristers and are based in the legal heart of London in Middle Temple (one of the four prestigious barristers’ Inns of Court) adjacent to the Royal Courts of Justice. We are experts in dealing with matters surrounding bankruptcy including defending bankruptcy petitions; managing bankruptcy applications (including annulments); advising on bankruptcy petitions and offences; and liaising with the Official Receiver. Whilst we are based in London we provide national coverage across all Courts in England & Wales.