Section 267(2)

Subject to the next three sections, a creditor’s petition may be presented to the court in respect of a debt or debts only if, at the time the petition is presented— the amount of the debt, or the aggregate amount of the debts, is equal to or exceeds the bankruptcy level, the debt, or each of the debts, is for a liquidated sum payable to the petitioning creditor, or one or more of the petitioning creditors, either immediately or at some certain, future time, and is unsecured, the debt, or each of the debts, is a debt which the debtor appears either to be unable to pay or to have no reasonable prospect of being able to pay, and there is no outstanding application to set aside a statutory demand served (under section 268 below) in respect of the debt or any of the debts.

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Source: legislation.gov.uk · retrieved 2026-09-04