All your resources at your fingertips.Learn More
A statutory demand was served in July 2012 regarding guarantee liabilities of £1.2m odd. The petition was not presented until March 2012. Chief Registrar Baister held that the petition was for a liquidated sum, the petitioner had not unreasonably refused the debtor's offers and there was no valid counterclaim. A bankruptcy order was made whilst, although the petition had not been presented within 4 months and r.6.12(7) of the Insolvency Rules 1986 might not have been complied with, it was disproportionate to dismiss the petition on that basis only as no prejudice had been suffered.
To view the full text, please log in.
To receive a FREE 14 day online trial to Insolvency Law Online click here.
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...