A winding up petition is a very serious document - if not dealt with properly - it can lead to a company being wound up and personal claims against the former directors. Whether you are a petitioner or in the receiving end - our team has dealt with 1000's petition related cases since we started business in 2002. Let us help you too.
A companies court winding up is where a company has failed to pay the debt demanded in the winding up petition.
In those circumstances, as long as all of the due process has been followed by the petitioner, the companies court will order a winding up. This means that
- the company is placed into compulsory liquidation;
- the company ceases to trade;
- a government appointed liquidator will be in control of the company; and
- the directors of the company will have no further involvement in the running of the business.
In order to ensure that a companies court winding up goes through at the petition hearing, the Petitioner must advertise the winding up petition. A winding up petition advertisement is when the petition is advertised in the London Gazette. That then makes it public to other creditors who can then support the petition if they are owed money.
A copy of the winding up petition advert together with other supporting winding up petition documents such as a certificate of compliance, certificate of continuing debt and any notices of support of the winding up petition are also filed with the court.
If you are seeking a companies court winding up of a company or if you are responding to a threatened companies court winding up, then Francis Wilks & Jones is the expert firm of winding up petition solicitors to help you.
One of the most astute appointments I have ever made.A company director