Creditors' bankruptcy petitions—grounds and documents required for presentation
Creditors' bankruptcy petitions—grounds and documents required for presentation

The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:

  • Creditors' bankruptcy petitions—grounds and documents required for presentation
  • Coronavirus (COVID-19)
  • Types of bankruptcy petition and who can present one
  • Jurisdiction to commence bankruptcy proceedings
  • The grounds for presenting a creditors' bankruptcy petition
  • Documents to be completed and what goes in them
  • Where to present a creditors' bankruptcy petition
  • What to put in a creditors' bankruptcy petition
  • How to verify the contents of a creditors' bankruptcy petition
  • Issuing a creditors' bankruptcy petition at court

Bankruptcy in England and Wales is a process by which the court or the bankruptcy adjudicator adjudicates an individual bankrupt by making a bankruptcy order. While a company may go into voluntary liquidation without any involvement from the court, only the court or the bankruptcy adjudicator can make an individual bankrupt.

The bankruptcy procedure available to a debtor’s creditors has its own prescribed process, which includes (in some cases) its own pre-action procedure (the statutory demand), and is conducted under the Insolvency Act 1986 (IA 1986) and Insolvency (England and Wales) Rules 2016, SI 2016/1024 (IR 2016). The Practice Direction on Insolvency Proceedings (PDIP) also applies.

Coronavirus (COVID-19)

This content contains guidance on subjects impacted by the Coronavirus Act 2020 and related changes to court procedures and processes as a result of the Coronavirus (COVID-19) pandemic, including the Temporary Insolvency Practice Direction 2020. For further information, see Practice Notes: Coronavirus (COVID-19)—Changes to the court process in insolvency proceedings and The Temporary Insolvency Practice Direction Supporting the Insolvency Practice Direction (October 2020). For related news, guidance and other resources to assist practitioners working on restructuring and insolvency matters, see: Coronavirus (COVID-19)—Restructuring & Insolvency—overview.

Types of bankruptcy petition and who can present one

  1. creditors' petition—any creditor (either on their own, or jointly with other creditors), who is owed a liquidated and undisputed debt or debts equal to or more than

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