224 Inability to pay debts: other cases
224 Inability to pay debts: other cases

(1)     An unregistered company is deemed (for purposes of section 221) unable to pay its debts—

(a)     if in England and Wales execution or other process issued on a judgment, decree or order obtained in any court in favour of a creditor against the company, or any member of it as such, or any person authorised to be sued as nominal defendant on behalf of the company, is returned unsatisfied;

(b)     if in Scotland the induciae of a charge for payment on an extract decree, or an extract registered bond, or an extract registered protest, have expired without payment being made;

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