Winding up petitions can be dismissed for a variety of reasons - the debt might be paid, it might be subject to a genuine dispute or there might be a counterclaim by the debtor against the petitioner. Our team deals with these types of situations very regularly - for both petitioners and companies on the receiving end. Whatever your position - it is vital to take the right action. Let us help.
Reasons to dismiss a petition
There are various reasons why a winding up petition dismissal is the sensible course of action to take
- if the winding up petition debt has been paid, it will stop the petition being supported by another creditor of the company. This can lead to a loss of control and ultimately the creditor might have to pay back any money received if the company is later wound up;
- it removes the petition from the public record – which will very much help the debtor company as petitions are viewed as very negative things;
- it can help unfreeze a company bank account;
- it reduces personal liability for the directors of the debtor company.
How to dismiss a winding up petition
The procedure itself is set out in the insolvency rules.
- a formal application needs to be made online to the court with the correct court fee.
- there also is a requirement for a petitioner to deal with the position of the legal costs and these need to be set out clearly to the court and a letter received from the debtor company with the appropriate wording.
At Francis Wilks & Jones we can help you through this technical process and with access to the courts just down the road, is something we can do effectively and quickly.
Equally, we often provide companies served with winding up petitions advice on how best to have the winding up petition dismissed from court. We are very familiar with all aspects of the winding up order process including winding up order dismissal.
Let our friendly team help you today. We are experts in all matters relating to winding up petitions.