Annulment
The legal cancellation of a bankruptcy order, usually because the order should not have been made or the bankruptcy debts and costs have been dealt with as required.
Related terms
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Bankruptcy debt
A debt that falls within a bankruptcy and is dealt with under the rules of the bankruptcy estate, subject to statutory exceptions.
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Bankruptcy order
The formal order that places a person into bankruptcy and triggers the legal consequences of the process.
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Income Payments Order (IPO)
A court order in an England and Wales bankruptcy requiring payments from surplus income into the bankruptcy estate where an agreement has not been reached.
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