16/01/2017 2:30 PM AEDT | Updated 16/01/2017 5:39 PM AEDT

Rod Culleton Is 'Not Going Anywhere', Except For A 'Self-Imposed Moratorium' What?

We think.

Bankrupt and disqualified former senator Rod Culleton is going to put a moratorium on himself.

We think.

The WA politician said Monday he has no intention of "going anywhere" after the Federal Court ruled last month he was an "undischarged bankrupt" after he had failed to pay a $280,000 debt to former Wesfarmers director Dick Lester.

But he will put a self-styled moratorium on himself, he told journalists in WA on Monday.

"I am very proud of what I've been able to achieve in a short period of time, in the time that I have sat, and I've certainly left my mark in politics," he said.

"I am not going anywhere, I'm actually going to concede to a self-imposed moratorium on myself as a senator and I will not be attending any functions."

Senate President Stephen Parry has said Culleton is officially disqualified from the Senate, while West Australian Governor Kerry Sanderson is readying for a casual vacancy in the senate.

Under the Constitution, a senator's seat is automatically made vacant if they are declared bankrupt.

"I am very proud to be a senator," he said. "I am not bankrupt, I will appeal," he insisted.

The High Court still has to rule on whether Culleton Was eligible to stand for election on July 2 while holding a larceny conviction, even though the conviction was later annulled.

The court, sitting as the Court of Disputed Returns may call for a recount which count then give the vacant seat to the second person on the One Nation ticket in WA.

It wasn't all bad news for Culleton on Monday, with the bankrupt and disqualified former senator experiencing a rare legal win after a second attempt to have him declared bankrupt was thrown out of the Federal Court.

One Nation Leader Pauline Hanson insists she did not know about the conviction or Culleton's financial problems when he was invited to represent the party.