The need for a statement of truth
A bankruptcy petition must be verified by a statement of truth. This is a sworn statement verifying the contents of the petition to be true and accurate.
It is fairly normal for the solicitor who has drafted the Bankruptcy Petition to prepare and sign the statement of truth. However if a solicitor has not drafted the Bankruptcy Petition, then the statement of truth is usually signed by the creditor.
The rules relating to the form and content of the statement of truth are set out at Rule 10.10 of the Insolvency (England and Wales) Rules 2016. It is vital that these are followed properly. Failure to do so may invalidate the Bankruptcy Petition
Rule 10.10 of the Insolvency (England and Wales) Rules 2016
The petition must be verified by a statement of truth.
- If the petition relates to debts to different creditors, the debt to each creditor must be separately verified.
- A statement of truth which is not contained in or endorsed upon the petition which it verifies must be sufficient to identify the petition and must contain
- the name of the debtor;
- the name of the petitioner; and
- the court or hearing centre in which the petition is to be presented.
- The statement of truth must be authenticated and dated by or on behalf of the petitioner.
- Where the person authenticating the statement of truth is not the petitioner, or one of the petitioners, the statement of truth must state-
- the name and postal address of the authenticating person;
- the capacity in which, and the authority by which, that person authenticates the statement of truth; and
- the means of the authenticating person’s knowledge of the matters verified.
If a person signs a statement of truth and it later turns out that the contents of the Petition are false, then the person who signs the statement of truth could be held liable for contempt of court – the ultimate penalty for this is imprisonment
Francis Wilks & Jones can assist no matter what your bankruptcy petition enquiry. Contact us now for assistance.