Essential Skills: Bankruptcy
Annulment, discharge, s 73 composition

Understanding the differences between annulment, discharge and s 73 composition and their effects on bankrupts and trustees is essential knowledge for a bankruptcy trustee.

When advising a potential or existing bankrupt on these options for ‘ending’ a bankruptcy, it’s important to understand their differences and what effect they have on the estate, including the destruction dates for books and records.

This course provides a working knowledge of the different outcomes from annulments, discharges and s 73 compositions, for both the bankrupt and the trustee. You will also learn about retention of record requirements, to ensure compliance with legislation.

Learning objectives

At the end of this course you will be able to:

• Understand the effects of annulment, discharge, and s 73 compositions.
• Recognise and advise on the differences between the options for ending a bankruptcy.
• Explain a trustee’s record keeping and retention obligations.

Prerequisites

We recommend you have one year of on-the-job experience prior to attending this course.

CPE

TBC - maximum of 2 CPE verifiable hours. 

Please see our enrolment and cancellation policy . For further information contact our education team.