Although the decision has been overturned by the Court of Appeal, it is reassuring that the view remains that a bankrupt cannot avoid an IPO by simply declaring himself bankrupt for a second time. The Court took a sensible view that the provisions for discharged and undischarged bankrupts should mirror each other. Further, if a bankrupt falsely declares himself bankrupt in order to avoid certain debts, the Court is likely to annul the bankruptcy or may also make other appropriate orders.