How to petition
• The creditor has to prove that the company has failed to pay its debts.
• Fill in the petition form which entails;
The name, address, nature and type of the company.
The consideration for the debt, how it is owed, when the debt was incurred or became due.
Whether the company has failed to comply with a statutory demand.
Whether the statutory demand has not been set aside or there is no application for extension of time.
Whether the company is unable to pay its debts.
Whether the company has been declared insolvent.
• Attach an affidavit on the petition sworn by the creditor in the presence of a commissioner of Oaths.
• Serve the respondents with the petition.
• Give public notice of the petition by putting it in the gazette or a newspaper.
• Every other creditor who wishes to be heard has to give notice to the court and to the petitioner.