Petitioning Creditor - Definition - Law Dictionary Home Dictionary Definition petitioning-creditor

Definition :

Petitioning creditor, one who applies for an adjudication in bankruptcy against his debtor. See (English) Bankruptcy Act, 1914, ss. 3 et seq., whereby the creditor's debt must be a liquidated one for 50l. at least, and grounded upon an act of bankruptcy (see ACT OF BANKRUPTCY) having occurred within three months before the presenta-tion of the petition.