An annulment cancels the Bankruptcy Order that was made against the debtor.

Any assets which were not disposed of prior to the annulment of the Bankruptcy Order will be returned to the debtor. After an annulment of a Bankruptcy Order, the debtor will continue to be liable for any debts that had not been proven against him when the bankruptcy was in force.

However, after a discharge from bankruptcy, the bankrupt will no longer be liable for debts that were provable in his bankruptcy (except for debts due to the Government, debts arising from personal injuries caused to a person and debts arising from any order made under the Women's Charter relating to family matters).