| Commentary

98 The creditor

| Commentary

98 The creditor

As a general rule, any creditor who is owed an undisputed, liquidated debt by the debtor may petition. However, a creditor may not present a creditor’s petition if he is bound by an IVA1 unless the debtor is in default of his IVA or has secured approval to the IVA by false and misleading information2, nor may he petition while there is an interim order in force in respect of the debtor3. A company may present a petition in its name. Partnerships may petition in the name of the firm provided that the partnership is carrying on

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