If your company bank account has been frozen because of a winding up petition – we can help. A validation order application is normally the best way to proceed, allowing you to continue trading and avoiding the risk of personal liability as well. Let our team of experts help.
A company facing a “freeze bank account situation” can find quickly find itself in very serious trading and financial difficulty.
Winding up petition problems?
A frozen bank account situation often arises following the service of a winding up petition against a company. The winding up order is often then discovered by the bank which then puts a freeze on any payments out of the company account. This means the company cannot pay suppliers, creditors or staff and this can often lead to the company quickly collapsing.
Validation orders from the court can help
However, the freeze bank account situation can be dealt with very quickly by a court validation orders application. This is a type of application to the court by which permission is granted by the court for payments to be made out of a frozen company bank account without risk to the directors if the company is later wound up. A Validation order section 127 application can be made validating payments to be made such as to staff or suppliers.
At Francis Wilks & Jones we have many years’ experience dealing with validation orders, freeze bank account situations and successfully making applications to unfreeze assets, unfreeze company bank accounts, and dealing with winding up order reversed situations. We can help you continue trading after a winding up order has been placed on your company.
Please contact one of our expert team today for help. We are the company rescue experts and validation orders are something we commonly obtain. We can unfreeze bank accounts and help get a winding up order reversed.