| Commentary

87 Types of bankruptcy petition

| Commentary

B: BANKRUPTCY PETITIONS AND APPLICATIONS

1: INTRODUCTION

87 Types of bankruptcy petition

These are:

  1. 87.1

        creditor’s petition1;

  2. 87.2

        petition in connection with an IVA2;

  3. 87.3

        petition under the Financial Services and Markets Act 20003.

It is no longer possible for a debtor to present a petition for his own bankruptcy; instead he must make a bankruptcy application to an adjudicator4. This has some substantive implications but the change is procedural and a bankruptcy application like the (former) debtor's petition can only be presented on the sole ground that he is unable to

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