It is possible to reverse a winding up order and have the petition removed. This is known as rescission and involves a court application. Our team are experts in this field and have made many rescission applications over the years. Call us today for help.
It is possible to rescind a winding up petition. However, most people are not familiar with that terminology. What most people believe by the words winding up petition rescission is the dismissal of the winding up petition. That is possible and is something that Francis Wilks & Jones specialise in.
The winding up petition withdrawal can be done either
- by consent (for example the debt itself has been paid); or
- it can following contested litigation.
This is often the case where the debtor says that the debt is disputed and ultimately, it takes a full winding up petition court hearing for the matter to be sorted out in court. In those circumstances, if the court finds that there is a genuine and substantial dispute on the underlying claim, the winding up petition will be rescinded and thrown out by the court. The respondent will also be awarded its costs on what is called an indemnity basis.
At Francis Wilks & Jones we are experts in winding up petition rescind claims. You should contact us for any winding up petition enquiries especially if you are looking to either have a petition rescinded or are facing an application by a debtor to have the winding up petition withdrawn.