Section 18 of Insolvency Act CAP 53: When court can make bankruptcy order on application by secured creditor
(1) A debt that is the debt, or one of the debts, in respect of which a creditor's application is made need not be unsecured if either—
(a) the application contains a statement by the person having the right to enforce the security that the creditor is willing, in the event of a bankruptcy order being made, to give up the security for the benefit of all the bankrupt's creditors; or
(b) the application is expressed not to be made in respect of the secured part of the debt and contains a statement by that person of the estimated value at the date of the application of the security for the secured part of the debt.
(2) In a case to which subsection (1)(b) applies, the secured and unsecured parts of the debt are to be treated for the purposes of sections 17, 19 and 20 as separate debts.
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—
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(a) be...
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