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. We have been helping businesses since 2002. Let our team of experts help you too.
Validation orders are commonly used to solve the problem of a frozen bank account. They are a specific type of court order designed to help a company unfreeze a bank account and continue to trade. But only if certain requirements set out in the Insolvency Act are met to the court’s satisfaction.
What goes in to a validation order application?
Unfreezing a bank account requires a validation order application supported by witness statement evidence. The court needs to be persuaded in the validation order hearing that there are sufficient grounds to unfreeze the bank account and that the criteria set out in the Insolvency Act 1986 are met. It will look carefully at things such as
- the financial position of the company;
- the parties who need to be paid from the bank account (in the context of the company’s general viability the need to trade, future profit and longer-term prospects).
At Francis Wilks & Jones we have solved many problems relating to how to unfreeze a business bank account for our clients. We know how to apply for a validation order, how to draft the detailed witness evidence needed in support of the application, how to instruct a validation order barrister to attend the validation order hearing.
We are able to deal with any frozen bank account situations and enable the company to continue trading despite winding up orders being in place. Unfreezing company bank accounts and unfreezing assets is our expertise and we would recommend that you contact one of the experts in our validation orders team who will be more than happy to assist you with your enquiry.
Our expert team of winding up petition solicitors at Francis Wilks & Jones are here to help you with if you have been served with a winding up petition you might need a validation order to continue trading despite debt recovery issues. Contact one of our company rescue team today for help.
I was delighted by the work done by the team at FWJ and cannot recommend them highly enough. Their legal and tactical knowledge was spot on.A company director