Section 271(3)

The court may dismiss the petition if it is satisfied that the debtor is able to pay all his debts or is satisfied— that the debtor has made an offer to secure or compound for a debt in respect of which the petition is presented, that the acceptance of that offer would have required the dismissal of the petition, and that the offer has been unreasonably refused; and, in determining for the purposes of this subsection whether the debtor is able to pay all his debts, the court shall take into account his contingent and prospective liabilities.

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