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 use of the bank account and to continue trading - plus avoiding the risk of personal liability as well. We have been helping businesses since 2002. Let our team of experts help you too.
Dealing with validation order winding up petition situations is our expertise.
Winding up petitions can be very scary for companies and directors – and if they are not dealt with properly, can quickly lead to the company facing formal insolvency and all the negative consequences which flow from that.
- a winding up order can freeze a company bank account and a frozen bank account can quickly be disastrous for a business;
- the way to deal with this is to make a specific application to court to allow the company to continue trading. This is known as a validation order application;
- a validation order “validates” or grants court permission for key payments being made to suppliers, creditors and employees;
- the bank will be served with the court order and payments will be allowed out of the company bank account;
- a validation order removes the risk to the directors of personal liability and having to repay the money themselves.
It does however require expertise from lawyers to draft the Validation order Section 127 Application. At Francis Wilks & Jones we have dealt with numerous validation order situations and our expertise in this area is unrivalled. Whether you are suffering from a frozen bank account, or looking for help to have the winding up order reversed to allow you to continue trading, we are the experts who can help you.
Our expert team of winding up petition solicitors at Francis Wilks & Jones are here to help. Call us now. Let us help.