Receiving a winding up petition can be a very frightening experience. With our team you will be in safe hands. Since 2002, our team has dealt with many 100's of petitions over the years and successfully resolved many of them to the benefit of our clients. Let our team help you today.
If you have received a winding up petition and dispute it, then we can help you in the process of fighting a winding up petition. We appreciate that a petition can be a scary document to receive. We can help take the stress out of the situation.
However, it is important to understand that you need to have sufficient grounds to fight a winding up petition. A winding up petition can be issued in circumstances where there is a debt due and owing which is over £10,00. This is currently a temporary limit to the end of March 2022 – the previous limit was much lower – only £750.
Whatever the limit – careful thought and consideration needs to be given to the question of fighting a winding up petition. However, time is often very pressing with winding up petitions. If you have received a winding up petition, then effectively you have 7 business days in which to deal with it as otherwise it can then be advertised in the London Gazette.
A winding up petition can be fought on a number of levels these are as follows:
- The debt is subject to a genuine dispute. If a debt is genuinely disputed then the winding up procedure is not the correct way to try to recover a debt. The courts generally frown on the use of winding up petitions for debt recovery and a genuinely disputed debt should be resolved in what are known as Part 7 proceedings i.e. court proceedings whereby ultimately, the court can hear oral evidence from witnesses at trial, a procedure which is not available in the insolvency courts. Therefore, if a debt is subject to a genuine dispute then you can fight the winding up petition. If the petitioner fails to agree to withdraw the winding up petition, then you can then seek an injunction to restrain them from advertising the winding up petition in the London Gazette. If the petition has not already been issued, you can seek an injunction to stop them issuing the winding up petition.
- You can also fight a winding up petition if you have a cross claim which overreaches the amount of the petition debt. For example, if the debtor is claiming £10,000 off you for supply of goods or services but issues with those goods or services has caused you losses greater than that £10,000 figure, then this can be used as grounds for disputing the debt. To succeed on this ground of fighting a winding up petition, you would have to have clear evidence of that loss – but it can be a way of fighting a winding up petition.
- If the winding up petition is procedurally defective in any way it can be struck out by the court. This is another way of fighting a winding up petition. Procedurally, it is important that a petitioner follows all of the correct winding up petition company law and as experts, we can assist you on this.
Whatever your particular circumstances, we can help you fight a winding up petition.
It is very important to ensure that every effort is made to have the winding up petition withdrawn as otherwise, it can lead to significant damage to your company and it ultimately being wound up. Whatever your questions regarding fighting a winding up petition, speak to the legal experts now.
If you need help fighting a winding up order, we are the firm for you. We provide quick, cost effective and commercial advice. Call now us now to speak to one of our friendly advisers. Let us help you deal with this stressful situation.