Representing Mt Whyte, law firm Berryman said: "We confirm that we represented Chek Whyte at a hearing of his bankruptcy petition in Leicester County Court last Friday.
"Our client had instructed us to seek an adjournment of the hearing of his petition on the grounds that the bankruptcy petition had not been served in sufficient time before the hearing.
"Mr Whyte is disappointed that the application for an adjournment was refused.
"However, he still intends to press ahead with submitting a revised IVA proposal to his creditors as he continues to believe that this represents the best chance of his creditors being paid in full."
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