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.