Aabar Block S.A.R.L an another v Maud

Bankruptcy – Petition. The Bankruptcy Court granted a debtor's application for a second adjournment to the hearing of a petition for him to be adjudged bankrupt where an immediate bankruptcy order would not, on the balance of probabilities, benefit the general unsecured creditors at the present point in time, and in circumstances where a liquidation plan in Spanish proceedings could result in the debtor being able to meet all creditor claims and where it was held that the petitioners had had an ulterior object in pursuing the petition.

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