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Annulment

If all the debts are paid the trustee will annul the bankruptcy. Annulment takes place when the payment, or last payment, is made including interest on interest bearing debts [Bankruptcy Act 1966 (Cth) s 153A].

The court can also annul the bankruptcy if satisfied that a sequestration order ought not to have been made or where a debtor files their own petition (where the petition ought not to have been presented) is accepted by the Official Receiver [s 153B].

Legal advice should be sought from a private lawyer about options for annulment of bankruptcy.

Annulment  :  Last Revised: Thu Feb 21st 2013
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