WA Senator Rod Culleton says he will appeal against a Federal Court ruling that he is bankrupt as he fights to save his political career.

A 21-day stay on the bankruptcy order will end on Friday and Senate President Stephen Parry could then declare an upper house vacancy in WA that must be filled.

Senator Culleton denied that he was bankrupt on Wednesday or that his time in politics would end and said he would apply to have the bankruptcy judgement set aside.

The former One Nation member said he had not received a fair hearing by Justice Michael Barker at last month's hearing, which related to his failure to pay a $280,000 debt to former Wesfarmers director Dick Lester.

Play Video A WA senator claim they were victims of a set up that led to an ugly brawl with a former WA liberal MP. The West Australian Video A WA senator claim they were victims of a set up that led to an ugly brawl with a former WA liberal MP.

"Due to the disruptions and how it all played out, I had less than one hour to address the court and that's obviously a massive appeal point," he told ABC radio.

If Senator Culleton does lose his seat, he could be replaced by the number two on his senate ticket, his brother-in-law Peter Georgiou, and stay involved but One Nation Leader Pauline Hanson says she plans to nominate another person.