Skip to content
Contents

Part VI

145. Annulment of Bankruptcy Order

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The court may annul a Bankruptcy Order if at any time, it appears to the court -

(a)

that, on any grounds existing at the time the order was made, the order ought not to have been made; or

(b)

that the provable debts and the expenses of the

Bankruptcy have all, since the making of the

Bankruptcy Order, either been paid or secured to the satisfaction of the court.

(2)

The court may annul a Bankruptcy Order whether or not the bankrupt debtor has been discharged from the

Bankruptcy.

(3)

Where the court annuls a Bankruptcy Order —

(a)

any sale or other disposition of property, payments made or other things duly done, under any provision in this Part, by or under the authority of the Official Receiver, Bankruptcy

Trustee, or the court, shall be valid; but

(b)

if any of the Bankruptcy Estate is then vested, under any such provision, then a Bankruptcy

Trustee, shall vest in such person as the court may appoint, or, in default of any such appointment, revert to the bankrupt debtor on such terms, if any as the court may direct.

Part VII

Personal Insolvency Register

Part VIII

Part IX

Part X

Compromises

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Part XII

Part XIII

Part XIV

Cross - Border Insolvency

Part XV

Part XVI

Part XVII

Schedules