Lincoln & Rowe’s specialist insolvency team assists with matters of presenting or defending a bankruptcy petition. There are a number of conditions that must be satisfied when presenting a bankruptcy petition including but not limited to ensuring the bankruptcy petition is issued in the correct court, it is personally served and that the creditor has no security or insufficient security to satisfy the entirety of the debt.
Prior to presenting a bankruptcy petition against an individual, it will be necessary for the creditor to show that the individual is unable to pay their debts of £5,000 or more as and when they fall due whether payable immediately or at some future point in time.
In order to show the above, it will usually be necessary for the creditor to serve the debtor with a statutory demand. If the statutory demand has not been satisfied and no application has been made to set it aside, the creditor will be able to present a bankruptcy petition against the debtor after three weeks have passed from the date of service.
Speak to one of our insolvency solicitors today
We help creditors by advising on them on the bankruptcy process and any alternative options that may be available to them
We can advise individuals facing a bankruptcy petition on any defence or settlement.
Make an online enquiry, send an email to firstname.lastname@example.org or call us on +44 (0)20 3968 6030.
Who we can help
Our specialist solicitors at Lincoln & Rowe have extensive experience in managing individual and company debt. We work with and for individuals and businesses of all types and sizes, including owner managed enterprises, national and international businesses based in the UK and abroad, in a range of jurisdictions. We advise both claimants and defendants
Where you can find us
Lincoln & Rowe Solicitors are based in the heart of London and just a few minutes’ walk from the Royal Courts of Justice. Our full address is 81 Chancery Lane, London WC2A 1DD.