Petitions for sequestration
8 Further provisions relating to presentation of petitions.
1
Subject to subsection (2) below, a petition for the sequestration of a debtor’s estate (other than a deceased debtor’s estate) may be presented—
F1a
at any time by–
i
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
ii
a trustee acting under a trust deed;
iii
a temporary administrator; or
iv
a member State liquidator appointed in main proceedings;
b
by a qualified creditor or qualified creditors, only if the apparent insolvency founded on in the petition was constituted within 4 months before the petition is presented.
F62
A petition for the sequestration of the estate of a limited partnership may be presented—
a
by a qualified creditor or qualified creditors only if the apparent insolvency founded on in the petition was constituted within 4 months (or such other period as may be prescribed) before the date of presentation of the petition, or
b
at any time by—
i
a temporary administrator,
ii
a member State liquidator appointed in main proceedings, or
iii
a trustee acting under a trust deed.
3
A petition for the sequestration of the estate of a deceased debtor may be presented—
F3a
at any time by–
i
an executor;
ii
a person entitled to be appointed as executor of the estate;
iii
a trustee acting under a trust deed;
iv
a temporary administrator; or
v
a member State liquidator appointed in main proceedings;
b
by a qualified creditor or qualified creditors of the deceased debtor—
i
in a case where the apparent insolvency of the debtor was constituted within 4 months before his death, at any time;
ii
in any other case (whether or not apparent insolvency has been constituted), not earlier than 6 months after the debtor’s death.
4
If an executor does not petition for sequestration of the deceased debtor’s estate or for the appointment of a judicial factor to administer the estate within a reasonable period after he knew or ought to have known that the estate was absolutely insolvent and likely to remain so, any intromission by him with the estate after the expiry of that period shall be deemed to be an intromission without a title.
C15
The presentation of F4, or the concurring in, a petition for sequestration shall bar the effect of any enactment or rule of law relating to the limitation of actions in any part of the United Kingdom.