Sequestration petition by a qualified creditor to the sheriff court
A qualified creditor who is not a notified creditor or who has notified the trustee of their objection to the trust deed within the relevant period may present a petition to the sheriff for sequestration of the client’s estate:
1s172 B(S)A 2016•not later than five weeks after the date of registration under section 169 of the Act of the notice mentioned in that section; or
•at any time if the creditor avers that the provision for distribution of the estate is, or is likely to be, unduly prejudicial to a creditor or class of creditors.
The sheriff must be satisfied that it is in the best interests of the creditors before it is granted.
2s177(1) B(S)A 2016If the petition is successful, the client is declared bankrupt, and the petitioning creditor may appoint another insolvency practitioner or the AiB to administer the bankruptcy.