| Commentary

101 When the petition should be presented

| Commentary

101 When the petition should be presented

A bankruptcy petition based upon an unsatisfied statutory demand should not be presented until three weeks have elapsed since the date on which the demand was served1. However, where a creditor’s petition is based wholly or partly on a debt which is the subject of a statutory demand, an expedited petition may be presented before the end of those three weeks where there is a serious possibility that the debtor’s property or the value of any of his property will be significantly diminished during that period2. The petition must

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