Point in time view as at 08/07/2021.
Insolvency Act 1986, Section 269 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)A debt which is the debt, or one of the debts, in respect of which a creditor’s petition is presented need not be unsecured if either—
(a)the petition contains a statement by the person having the right to enforce the security that he is willing, in the event of a bankruptcy order being made, to give up his security for the benefit of all the bankrupt’s creditors, or
(b)the petition is expressed not to be made in respect of the secured part of the debt and contains a statement by that person of the estimated value at the date of the petition of the security for the secured part of the debt.
(2)In a case falling within subsection (1)(b) the secured and unsecured parts of the debt are to be treated for the purposes of sections 267 to 270 as separate debts.
Modifications etc. (not altering text)
C1S. 269 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II
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