The court may not make a bankruptcy order on a creditor's petition1 unless it is satisfied that the debt, or one of the debts, in respect of which the petition was presented is either:
(1) a debt which, having been payable at the date of the petition or having since become payable, has neither been paid nor secured nor compounded for; or
(2) a debt which the debtor has no reasonable prospect of being able to pay when it falls due2.
In a case in which
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234