In the case of a creditor's petition presented wholly or partly in respect of a debt which is the subject of a statutory demand under section 268, the petition may be presented before the end of the 3-week period there mentioned if there is a serious possibility that the debtor's property or the value of any of his property will be significantly diminished during that period and the petition contains a statement to that effect.
Section 270: Expedited petition.
Insolvency Act 1986 · 1986 c. 45View on legislation.gov.uk
Part IX: Bankruptcy — Chapter I: The court: bankruptcy petitions and bankruptcy orders
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