Presentation and hearing-the petition, Financial Accounting

Presentation and hearing

The petition is presented to the court and must be served on the debtor at least eight days before the hearing. If the debtor wishes to oppose it he must give notice of that fact and the reasons for his opposition at least three days before the hearing. The court may dismiss the petition if the creditor fails to prove

  • The  debt
  • Service of the petition on the debtor
  • The act of bankruptcy relied on or
  • If satisfied that the debtor can pay his debts, or for other sufficient cause.

 

Otherwise it may stay the proceedings on such terms as it thinks fit, or make a receiving order against the debtor.

Posted Date: 12/12/2012 6:04:33 AM | Location : United States







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