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 frozen bank account can have a massive impact on your ability to run your company. Company bank accounts are normally frozen after service of a winding up petition on the company. As soon as a bank finds out that a winding up petition has been issued, it can freeze the bank account and the words “limited company bank account frozen” and “frozen bank account” are phrases we often hear from our clients.
Unfreeze your account and reverse a winding up order
However, it is possible for a winding up order to be reversed and the bank account to be unfrozen.
We are experts in unfreezing company bank accounts and the best way of doing this if a winding up petition has been issued is to apply to court for a validation order. A validation order validates or permits certain payments to be made from the frozen bank account. These could include
- payments to staff
- payments to help secure the finalisation of a contract
- payments to a landlord for rent.
The court will give permission to certain transactions to help the business continue to trade subject to certain evidence being put forward to the court as part of the application.
This is the best way of unfreezing a company bank account and ensuring that you can continue trading despite a winding up order being made against the company. Prompt action is required. If a company bank account is frozen it can soon become critical to the survival prospects of a company.
At Francis Wilks & Jones we have the expert team who are able to unfreeze company bank accounts and unfreeze assets. Please contact us now to speak to one of our expert advisers who can help you with this worrying situation.