Normally it can take around 8-10 weeks to wind up a company. Although Covid has changed the timetable. We can help guide you through the process, whatever side you are on.
In the assumption that the winding up petition debt isn’t paid, disputed or adjourned, the process to wind up a company can take as little as 8-10 weeks. One word of warming though – the current Covid restrictions now mean the process is often a lot slower than this. Please contact our experts for the latest position resulting from the temporary legislation in place.
There are a number of steps which have to be carried out as part of the normal winding up petition process:-
- Making a search of the winding up petition register at court
We undertake a winding up petition search at court to ensure that there is not already a winding up petition in existence. This is because there can only be one petition at any time.
- Drafting the Winding up Petition and supporting witness statement
The winding up petition then needs to be drafted with all the relevant information and in addition, we need to draft a supporting witness statement.
- Issuing the Winding up petition at court
Once the winding up petition and statement are ready the petition will need to be issued at the appropriate court. We always issue out of the Companies court in the high court of Justice, London. We can do this the same days as instruction as we are very near the court.
- Service of the Winding Up petition
After issue of the winding up petition by the court, we can arrange for it to be served by a process server – part of the requirements of the winding up petition serving process
- Advertising the winding petition in the London Gazette
If the winding up petition debt remains unpaid or undisputed, then in order to wind the company up, the winding up petition needs to be advertised in the London Gazette. This can happen as little as 7 business days after the date of service.
- Preparation for winding up court hearing.
To wind up a company, certain documents need to be prepared and filed in advance of the hearing. These include the certificate of compliance, a certificate of continuing debt and a copy of the affidavit of service.
- Attendance at the hearing
To wind up a company, you will need representation at the court hearing to seek a winding up order, (although at present all hearings are done virtually due to Covid). The hearing date is usually 8-10 weeks after the date the winding up petition is issued. On occasion a director of the debtor company may attend and try and argue against the winding up order being made. Therefore it is important to have proper legal representation at the hearing.
Francis Wilks & Jones is among the county’s leading firm of winding up petition solicitors. We are experts in what we do with many years’ experience of over dealing with winding up petition cases. Whatever your winding up petition enquiry, we can assist.