Whether you are a petitioner or on the receiving end of a winding up order - there are times when both sides will need more time to resolve their differences and try and sort the petition out. Our team can help you get extensions of time at court if needed. Call our expert team.
Adjournment – the legal phrase for “requesting more time”
If a winding up petition has been served on a company, the clock starts ticking immediately.
If the winding up petition is not responded to, it can be advertised in the London Gazette just 7 days business days after the dated of service. If that happens it would very likely spell the end of the company’s ability to trade and lead to its liquidation.
The need for an adjournment (delay) of a winding up order
Often, a debtor company needs time in order to organise its affairs and arrange for a payment of the winding up petition debt. For example, it might want to offer a negotiated installment settlement. If however, the court hearing date is getting near, the petitioning creditor might want to extend that date to allow more time for a solution to be found.
This will mean attending court and asking for more time. At Francis Wilks & Jones, we are able to arrange for a barrister to attend the winding up petition court and seek an adjournment of the winding up petition hearing date. This will allow all the parties to the case more time to sort things out and settle the winding up petition debt.
Do both sides need to agree to an adjournment before one is granted?
On most occasions adjournments are dealt with by consent (ie both sides agree in advance) and therefore the winding up hearing for the adjournment is relatively straight forward.
However in some circumstances, particularly with winding up petitions by HMRC, the petitioning creditor can take a harder line and in these cases, we can help prepare the necessary written evidence in advance of the court hearing to help persuade the court that further time should be given to allow the debtor company to try and organise payment of the debt and continue trading.
Whatever the situation the expert team of winding up petition lawyers at Francis Wilks & Jones can help. Our team of experts have obtained hundreds of adjournments over the years.