Malcolm Roberts' hopes of replacing himself in the Senate appear doomed after Queensland publican Fraser Anning – the next candidate on One Nation's ticket – successfully avoided bankruptcy.

Creditors have officially withdrawn their bankruptcy petition against Mr Anning and his wife Fiona, Fairfax Media can reveal.

The move comes after Mr Anning struck a confidential settlement agreement with ABL Nominees – a subsidiary of the Bendigo and Adelaide Bank – which launched the bankruptcy case over debts associated with a failed agribusiness scheme.

The deal means there should now be no barrier preventing Mr Anning taking up the seat, likely to be left vacant by Senator Roberts in the coming weeks. The High Court is widely expected to disqualify Senator Roberts from Parliament for failing to renounce his British citizenship before last year's election.