Plurality of creditors

You can only be declared bankrupt if there is more than one creditor What does the law say Article 6, paragraph 3 of the Bankruptcy Act provides that the court can declare bankruptcy if a debtor has “ceased to pay”. It is generally accepted that this is the case if there is at least one other creditor with a claim due. The applicant for the bankruptcy will have to make this plausible. Aid claim The [...]