The term - public interest - is of particular importance in certain winding up situations. If a company is acting against "the public interest", there are grounds for that company to be wound up. Our team can help advise you if you face this situation.
The Secretary of State for Business, Energy and Industrial Strategy has the power to present a winding up petition against a company if they believe that the activities of that company are against the public interest.
“Public Interest” is not defined anywhere and the term has been considered by many academics over the years.
- broadly it could be said to be anything affecting the rights, health, welfare, well-being or finances of the public at large;
- as there is no set definition as to what is the public interest and in cases where winding up petitions are presented in the public interest by the Secretary of State, it will be up to the court to decide if the Secretary of State has provided enough evidence for the court to make a winding up order against that company.
The court has to consider if it is just and equitable in all the circumstances for that company to be wound up as its activities are contrary to the public interest.
If you have a public interest winding petition question we are the firm to help. We provide sound commercial advice on this often complex area. Call now us now to speak to one of our friendly lawyers.