Bankruptcy Petition for a breached settlement of a statutory demand.

[happysmash]

I'll try to keep this simple and to the point. A stat demand was served and a hearing set to have the application to set aside heard. I withdrew the application to set aside on the grounds that a settlement was reached.

 

Fast forward and payments on the settlement agreement have stopped on my end as the deliverable from the petitioners can physically be no longer provided. Namely they are no longer authorised to sell stock as specified in the settlement agreement and the forms for transfer have been returned by the company. I don't see in which world it would be just for me to pay for something that I'm not going to receive.

 

They have issued a bankruptcy petition for the breach of the settlement agreement and I have until Tuesday to file a 6.19. Does this form need to be accompanied by a witness statement and hand delivered to the court or can I fax/email?

 

Is the 6.19 even the right thing to do here?

 

Thanks in advance.

[unclebulgaria67]

Phone the insolvency service to see if they can advise on the process. Telephone no 0300 678 0015 lines open 8 to 5 mon to fri.

 

Don't know the answer and you may not get a proper response on a Friday afternoon on this site. Particularly ahead of a bank holiday.

[happysmash]

Thanks unclebulgaria. Do you happen to know how the bank holiday affects the deadline for submitted the 6.19. Does it need to be supplied 5 business days or 7days in advance, there seems to be some conflict in my Google results.

[unclebulgaria67]

Thanks unclebulgaria. Do you happen to know how the bank holiday affects the deadline for submitted the 6.19. Does it need to be supplied 5 business days or 7days in advance, there seems to be some conflict in my Google results.

 

Pass. Ask the court or insolvency service.

[AndyOrch]

What date was the SD served on you?

 

Bank Holidays have no effect on the court process except for Good Friday and Christmas Day.

 

Regards

 

Andy

[legalistic]

happysmash, much depends on your backstory I would say. Are there other creditors. Was there a judgment against you. Was the settlement agreement approved by a court.The creditor seems to assume you are liable regardless. Was/is there something in the original contract to that effect.Did you appeal. If not, this might be the time to do it rather than opposing the petition under 6.19. In that event you could ask the court to adjourn hearing of the petition until you have challenged the order on which the petition is based.Also, how much are they claiming off you.I'm wondering if they ought to have started again with a fresh statutory demand.I don't have access to the Insolvency Rules today as only the original version is available online, so I'm really only stabbing in the dark. Procedure is important in your situation. Tomorrow morning I might visit a library where they subscribe to LexisNexis which I believe will have the updated Rules.