Winding Up Petition

If you are currently facing a winding up petition, it will no doubt be a worrying time. While it is, of course, a serious matter, it is one that can be dealt with in a number of ways by an insolvency expert who can protect your financial and legal interests in the most effective way possible.

Here at The Insolvency Experts, we are experienced in handling a number of financial matters including winding up petitions, having handled such situations for many clients around the UK. We can guide individuals and businesses through the complexities of a winding up petition procedure and find the best way to deal with any winding up petition taken out against them.

Call our friendly experts on 0300 303 8284

By quickly taking back control we can help you solve the problems that the business has.

  1. Request a Consultation Free telephone advice
  2. Request a Callback Just leave your number
  3. Arrange an Office Visit We’ll come to you

Company Liquidation Quote

How much will it cost to liquidate your business?

Try our calculator to find out…

Launch Calculator

Four Key Questions on Winding Up Petition

What is a winding up petition?

Having a winding up petition brought against your company can be a stressful time. They can be issued by any creditor who is owed more than £750, seeking compulsory liquidation of your business so that they can raise money from your assets to pay off your debts.

If a creditor is threatening your business with a winding up petition you should act before it is issued, as once granted, it can significantly harm your business. For example, if your bank learns that someone has been granted a winding up petition against your business they may freeze your bank account to protect their interests.

How do I know if I’m subject to a winding up petition?

A winding up petition will lead to the case being heard in court, the purpose of this hearing is to decide whether your business is insolvent or whether it can remain operating with a view to the debts being paid. The winding up procedure canbe a complex process, one that shouldn’t be taken lightly. Once it has been granted it will be advertised in “The Gazette”, often prompting other creditors to take action against your outstanding debts.

What’s the best way to deal with a winding up petition procedure?

Acting quickly is key – the sooner you seek insolvency advice from a professional with experience, the more you can do to help prevent a winding up petition from being followed through, including stopping your business bank account from being frozen.Once a winding up petition has been received, your options have reduced, as you can no longer:

  • Sell the company or its assets (without it potentially being reversed by the courts)
  • The company and shareholders can no longer place the company into administration without an order of the court which is both a time consuming and costly process
  • Issue new securities or charges
  • Issue a NOI (Notice of Intention) to appoint an administrator
  • Propose and negotiate a CVA (Company Voluntary Arrangement)
  • Defend the petition
  • Enter administration

How do I find expert help with a winding up petition?

It’s vital that you fight a winding up petition as swiftly as you can, to protect your business and your own personal career in the short and long term. If you’ve been served a winding up petition or you’re concerned one is due soon and want to know more about the winding up procedure, you can contact us by calling 0300 303 8284 or emailing to speak to our insolvency experts and find out more about your options. Even ifa winding up petition procedurehas already been granted, there are still a range of options available to you.

How we’ve helped others through
rescuing their business

At the Insolvency Experts our sole aim is to rescue, recover and renew businesses that are in difficulty. We are specialists in corporate turnaround and help business overcome cash flow difficulties and other financial problems. Our experts:

  • Help you to take the appropriate steps to meet any impending deadlines
  • Have a long track record in helping companies in similar positions
  • Can help you take the best course of action, often using your assets to help you avoid additional cost

Get a Quote or Get Free Advice

We helped a struggling Birmingham restaurant from going into administation:

  • Turnover £890K
  • Total Creditors £94K
  • Assets £340K
  • HMRC Overdue £20K
  • Profit Now +£15K

We helped a marketing agency from going into administation:

  • Turnover £700K
  • Total Creditors £120K
  • Assets £20K
  • HMRC Overdue £30K
  • Profit Now +£80K

Creditors’ Guide To Fees

How much will it cost to liquidate your business?

Download our free quide to find out…


Why Choose Us?

We understand you have already made every effort to avoid insolvency and day to day life is stressful at the moment. We can start immediately and quickly work with you through the process.

We see many examples of great businesses that have fallen on hard times or suffered through no fault of their own.

We understand that the company directors and shareholders have already tried valiantly to carry on trading, but circumstances dictate that this is no longer possible.

  • We Remove Stress
  • We Act Quickly
  • We Are Cost Effective
  • We Are Formally Accredited
  • We Are CVL Experts
  • We Act Confidentially

Get Free Confidential Advice Now

Get Free, Confidential Advice

0300 303 8284

Request a Callback

For instant, impartial advice request a callback that’s convenient to you

Request a Callback

Request a Meeting

We come to you…

Nationwide Office Visit

We can come to your office at a date and time that’s convenient to you

Request a Meeting

Latest News

What are the advantages and disadvantages of Administration?

According to figures released by The Insolvency Service, 300 companies went into Administration in the last quarter of 2017. Jason Elliott of

Read more

Struggling to pay business debts – understand which are priority and which are non-priority

If you are struggling to pay your debts, it helps to know which ones should take priority and which can be dealt

Read more

Look out for early signs of underperformance

Signs of underperformance can be difficult to spot unless there is a sudden and catastrophic disaster. This could be an unexpected loss

Read more