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Flowchart Bankruptcy Proceedings Up To The Stage A Debtor Is Adjudged A Bankrupt
Flowchart Bankruptcy Proceedings Up To The Stage A Debtor Is Adjudged A Bankrupt
ADJUDGED A BANKRUPT
Final Judgment
(Once Debtor failed to respond to a judgment debt or bankruptcy notice, Proceed to next step)
S.3(1)(i) IA 1967: A debtor commits an act of bankruptcy...if a creditor has obtained a final judgment or...a
bankruptcy notice under this Act requiring him to pay the judgment debt or sum ordered to be paid...and he
does not within seven days after service of...”
Judgment Debtor responded within the time limit No response from Judgment Debtor within the
time limit
Full settlement or acceptable proposal for full Judgment Debtor commits an act of Bankruptcy
settlement
Filing of Bankruptcy Petition
(a) Creditors Petition (must be verified by an
affidavit)
Affidavit of Service