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Rescinding a receiving order in bankruptcy

rescinding a receiving order in bankruptcy

Business Law and Ethics Assignment Help, bankruptcy, how can a receiving order be rescinded? To kick off the process, you'll need to file a motion to dismiss your case. This step is the same regardless of whether you filed a Chapter 7 or a Chapter 13 bankruptcy, which are the two most common types of consumer bankruptcy. Filing a motion is a legal procedure that you may want to consult an attorney to undertake. If the conditions for the annulment of the bankruptcy order (see Chapter 6A) do not exist, the bankrupt can still apply for rescission of the order under section (1) which gives a court with. rescinding a receiving order in bankruptcy

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In this case most of the creditors, including the petitioning creditor, supported the applications to rescind the bankruptcy orders made against a husband and wife and none opposed them. The reason for their change of attitude was the belief that the bankruptcy orders would prejudice the recovery of a substantial asset.

The court held that the fact that the underlying circumstances which led to the creditors supporting the rescission of the bankruptcy orders had been known at the time the orders were made did not prevent their change of attitude from being both new and relevant as required for an application under section 1 which must be based on a change of circumstances.

If this is not possible, the court should be informed that this has not been possible. If the application is for rescission, the official receiver should deal with it in broadly the same way as an annulment application see Chapter 6A. In the Fitch case referred to at paragraph 6. Where the bankruptcy order is rescinded, the deposit shall be repaid to the extent that it is not required for payment of the relevant administration fee unless a fee has become payable to an insolvency practitioner appointed under section or unless the court orders otherwise, perhaps following an agreement between the parties.

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  1. I am sorry, that I interfere, but, in my opinion, there is other way of the decision of a question.

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