Winding Up Petitions

A winding up petition is a court-sealed document served on your business which, if not dealt with, gives the petitioning creditor the ability to obtain a court order putting your business into compulsory liquidation and they can then potentially appoint their own liquidator to investigate the company’s affairs.

What to do if you have received a winding up petition?

On receiving a winding up petition, time is of the essence because the longer this is left unaddressed the more likely it is that it will be advertised meaning other suppliers / creditors will become aware of it, impacting your ability to trade on.

Bank account frozen?

If you have already received a winding up petition and your bank has become aware of it, it is likely they will have frozen your company bank account. If this has happened to you, we can assist in getting you access to vital funds by obtaining a validation order. This is a specific order made by a court which allows a company to trade and make business critical payments.

Need to prevent winding up petitions being advertised?

For most businesses it is essential to prevent winding up petitions becoming public knowledge and avoid the inconvenience and costs that this will cause. Our team can assist in helping you achieve this.

Unable to pay the debt?

Sometimes, despite your best efforts, a company cannot be saved and pragmatic decisions need to be taken to try to preserve the best parts of your business. Our team of business rescue experts are best placed to advise you on what your next best steps are either by negotiating a time to pay arrangement or discussing insolvency options.