Winding Up Petition Dorney Reach in Dorney Reach

Contact Us

We never like to talk about financial difficulty and more often than not we find ourselves pushing it to the back of our minds, rather than accepting the situation and facing it head on.

However, more often than not, there is no sense in delaying the inevitable, but don’t worry, we currently offer a number of insolvency options and we may be able to provide help in the form of a Winding Up Petition.

Get In Touch

How Does a Winding Up Order Work?

So, exactly what is this order – and how does it work? Well, a winding up order or petition is a legally binding notice that is issued by a creditor with the intention of forcing a company into closure. A WUP is court ordered and usually follows a successful petition and immediately after the order has been issued, the Official Receive will ten commence the process of wind up the company.

Fear not, though, as a WUP is not always the only option and you may be able to prevent it – if you act quickly enough after receiving it. For example, if you pay off your debts to the creditor (including the costs of serving the petition) then you may be able to avoid the WUP.

You could also look into obtaining an administration order, or negotiating a Company Voluntary Arrangement with the company’s creditors. On the other hand, you may want to consider going into voluntary liquidation, or even request that the courts adjourn or cancel the hearing, provided you offer sufficient evidence.

In terms of timescales, a WUP generally takes around 4-6 weeks to reach court, but this depends entirely on how busy the courts are at the time – and it’s always worth remembering that Courts often close for periods over the summer and at Christmas.

It’s also worth noting that you can expect your company bank account or accounts to be frozen by the bank immediately after a winding up petition has been advertised in the Gazette. In some cases, it’s not unheard of to get this overturned, but only in extreme cases where clear supporting evidence is provided.

So what are the consequences? Well, if you’re a company director, your conduct will we investigated and if found guilty of misconduct, you could find yourself being disqualified as a director for anything from 2-15 years. You will also be in serious trouble if you’re found to be trading after knowing the company was insolvent and you may then be held personally liable for any debts that occurred after this time.

Winding Up Petition Process UK

The winding up petition process in the UK is actually relatively straight forward, so please don’t feel too overwhelmed by the whole situation – as we are always here to help.

Firstly, after the petition has been issued, you will have up to seven days to offer your response before the petition can be advertised formally. Do bear in mind that this 7-day window is the only chance you / the directors will have to possibly prevent compulsory liquidation by carrying out one of the options mentioned above.

Then, when the order has been issued, an Official Receiver will be appointed by the courts and the company will then be liquidated – with all assets being distributed between its creditors, in order of priority.

Contact Our Team

Issuing a Company WUP

If the shoe is on the other foot and you wish to issue a company with a WUP, we can help walk you through this process also. In order to do so, you must be owed at least £750 by said company and you must be able to prove that they are unable to pay you. If this is the case, you will then be required to fill out all the relevant paper work and then send them to the appropriate court in order to formally start the process.

To which court you send the paperwork will depend entirely on how much paid up share capital the company has – information on which can be found via the Companies House Register. For example, if the capital is greater than the sum of £120,000, the petition will need to go through the high court. Whereas if the capital sum is less than £120,000, this will need to go through the court nearest the company’s registered office.

After you have applied, you will receive a copy of the petition which you will then need to deliver (or serve) to the company director, or an employee. When you’ve done this, you will then need to provide a certificate of service to the court – this essentially just confirms that the petition has been served on the company. You will then need to send a copy to the relevant liquidator before a date for a court hearing is announced.

Winding Up Petition Costs

Please be aware, although you may be owed money, there are still costs involved with issuing a winding up petition. Currently, you can expect to pay court fees equating to £280 - as well as £1,600 petition deposit to manage the order. However, you may be able to get the fees back, if the court deems that the company in question is able to repay them.

There are also service proceedings costs that will need to be considered and the current fee for this can be anywhere between £75 and £100. Finally, there’s also the small matter of the Gazette Advertising costs, which currently sit at £79.40, plus VAT.

Find Out More

So, what’s next? If you’ve been on the receiving end of a winding up petition / order, it’s imperative that you seek professional advice as soon as possible because, as we mentioned previously, you only have a small window of time in which to act.

Alternatively, if you’re considering issuing a WUP, we can help with this too. So please don’t hesitate to get in contact I order to find out what the best option is for you or your company.

Find Out More

We cover Dorney Reach (Buckinghamshire)

Get in touch

We aim to get back to you in 1 working day.


Skip to

Gallery

Other locations available for winding up petition dorney reach
South End Chalfont St Peter Ellesborough Little Frieth Newtown Wroughton Park Shenley Wood Campbell Park Latimer Rotten Row Wooburn Moor Walton Manor Botley Verney Junction Horn Hill Leckhampstead Lower Woodend Little Marlow Denham Buckland Common Startop's End Simpson Whitney Fawley Barley End Sedrup Little Linford Westbury Stewkley Boveney Great Kimble Jordans Lee Clump Manor Park Aston Sandford Flowers Bottom Little Ickford Iver Heath Wendover Dean Westcott Bradwell Abbey Wilton Park Little Horwood Wolverton Mill South Rose Hill Poundon Crownfield Fingest Dorton Littleworth Corner Woolstone Kingsey Woodrow Cuddington Mill End Mursley Little Kimble Broughton Austenwood Littleworth Common Wotton Underwood Great Hampden Leadenhall Long Crendon Buckland Two Mile Ash Chicheley Cold Brayfield Skittle Green Amersham Old Town Downhead Park Ballinger Common Lavendon Alscot Stantonbury Walter's Ash Wooburn Green Shabbington Turweston Bedgrove Booker Hazlemere Kingswood Pitstone Hill Little Wood Corner Edgcott Honeyburge Walton Hall Danesfield Princes Risborough Ivinghoe Willen Lake Stratton Chase Colstrope Lenborough Southend Wavendon Berryfields Twyford Westcroft Water Eaton Widmer End Bancroft Park Mentmore Speen Green Hailey New Bradwell Dunsmore Loughton World's End Ashendon Prestwood Buckingham Lower Ascott Great Horwood Studley Green Northall Egypt Ascott Middle Weald Greenlands Thornton Fulmer Moor Common Little Boys Heath Skirmett Wheeler End Downs Barn Great Missenden Loosley Row Beacon's Bottom Rush Green Clifton Reynes Tingewick Tinkers End Wooburn Common Mount Pleasant Bolter End Chalfont Common Blakelands Upper Pollicott Thorney Oakhill Shenley Church End Whelpley Hill Hardwick Cressex North Lee Hulcott Holtspur Quainton Amersham Common Baker's Wood Foscote Old Farm Park Kimble Wick Tetchwick The City Redmoor Buckmoorend Chalfont St Giles Heath End Milton Keynes Village Fleet Marston Southcourt The Bowl Pheasants Asheridge Forty Green Shipton Lee Westlington Old Wolverton Biddlesden Newport Pagnell Marlow Bottom Long Street Singleborough Little Kingshill Tickford End Chessmount Knowlhill Orchard Leigh Oldbrook Brill Thornborough Halton Swanbourne Wooburn Saunderton Lower Weald Ludgershall Haydon Hill Hilltop Tongwell Coleshill Bockmer End Sherington Holmer Green Linden Village Downley Weedon Grange Farm Calvert Upper Winchendon Castlethorpe Amersham Edlesborough Nether Winchendon Addington Atterbury Elmhurst Diggs Cublington Springfield Pheasant's Hill Bishopstone Hyde Heath Hedgerley Hill Victoria Park Lye Green Hoggeston Nearton End Bledlow Wolverton Mill East Hambleden Flackwell Heath Shenley Brook End Woughton Park Chalfont Grove Church End Tatling End Chearsley Waterend Spurlands End Penn Street Wolverton Terriers Chalkshire Weston Underwood Rowsham Rockwell End Bye Green Oakley Pitstone Green Nash Lee Watermead The Lee Ibstone Stoke Hammond Hughenden Valley Hillesden Oxley Park Summer Heath Church End Gibraltar Tylers Green Monkston Park Wendover Greenleys Marsh Little Hampden Hyde End Dorney Reach Mobwell Langley Corner Peartree Bridge Dadford Shipton Redland End Drayton Parslow Hardmead Little London Northend Little Brickhill Marlow Common Rooksley Furzton Lake Monks Risborough Meadle Parslow's Hillock Warrington Whitchurch Dunton Radclive Gawcott Radnage Middle Green Burnham Wingrave Townsend Layters Green Middle Claydon Pond Park Ivinghoe Aston Hollybush Hill Central Milton Keynes Swan Bottom Buffler's Holt Brinklow Astwood Aylesbury Turville Heath Horton Wharf Ilmer Stratford Fields Worminghall Cryers Hill Chisbridge Cross Griffitts Yard Pitch Green Fishermead Oving Green End Goddards Caldecotte Lower Cadsden Dinton Newlands Chenies Stoke Goldington Browns Wood Bow Brickhill Chackmore West End Stokenchurch Lacey Green Little Crawley Nup End Adstock Marsworth Giffard Park Caldecote Ballinger Bottom Sands St Leonards Bryant's Bottom Grendon Underwood Tinkers Bridge Ley Hill Lower Hartwell Farnham Common George Green Kingsmead Kingston Heelands Emberton Chilton Horsleys Green Neath Hill Great Hivings Great Brickhill Tyler's Hill Great Holm Church End Hotley Bottom Medmenham Furzton Padbury Medbourne Pitstone Burcott Calverton Hunt's Hill Smokey Row Upton Blue Bridge Willen Bottrells Close Woodham Ford Newton Leyes Waddesdon Beanhill Upper Hartwell South End Olney Tathall End Widmoor Denbigh West Winchmore Hill Boarstall Petsoe End Filgrave Bolbeck Park Quarrendon Winterhill Walton Lent Naphill Weston Turville Beamond End Penn Bottom Lower End Far Bletchley Burroughs Grove Little Chalfont Horton Creslow Woburn Sands Shalstone Bennett End Coombe Hedgerley Green Moor End Seer Green Ditchfield Hanslope Pednormead End Lathbury Brook End Pitchcott Well End Tyringham Stone Newton Blossomville Fox Milne Moulsoe Higher Denham Dorney Bradville Fullers Slade Church End Church End Whiteleaf Lent Rise High Wycombe Lee Gate Clayhill Haversham Beachampton Great Linford Wardrobes Broughton Crossing Kiln Farm Butler's Cross Lillingstone Dayrell Hedsor Iver Bury End Northfield Heath End Mop End Horsenden Wood Green Botolph Claydon Cadmore End Page Hill Coffee Hall Farnham Royal Saunderton Stewkley Dean Frieth Ashland Crownhill Akeley Walton Sprig's Alley Holly Green Clanking Hitchambury Marsh Gibbon Bledlow Ridge Stonebridge Barton Hartshorn Wexham Street Bourne End Lee Common Great Kingshill East End Kents Hill Askett Woodhill Bletchley Chesham Bois North Crawley Pednor Bottom Forty Green Cores End Turville Fenny Stratford Owlswick Stony Stratford Lower Pollicott New Denham Hazeley Tilbrook Wymbush Cholesbury Bellingdon Netherfield North End Richings Park Fort End Maids Moreton Conniburrow Winslow Linford Wood Charndon Waterside Green End Burcott Brook End Bierton Berghers Hill Gerrards Cross Lane End Stony Green Bradwell Mantles Green Fulwell Salden Ledburn Bradwell Common North Marston Steeple Claydon Beaconsfield Hunt's Green Stacey Bushes Little Missenden Aston Abbotts Nash Saunderton Lee Stoke Poges Bradenham Eaglestone Sheepridge Codmore Wing Bucklandwharf Emerson Valley Chivery Terrick Towerage Preston Bissett Chesham Walton Court Hawridge Farnham Park Dagnall Rout's Green Lillingstone Lovell Taplow Lake End Wolverton Mill Littlecote Hillesden Hamlet Lower North Dean Willen Park Milton Keynes Bancroft Whaddon Amersham on the Hill Hollingdon Easington Elfield Park East Claydon Grove Water Stratford Aston Clinton Penn Love Green Middleton Hodge Lea East Burnham Shenley Lodge Cheddington Woughton on the Green Knotty Green Piddington Parmoor Ickford Mundaydean Bottom Bovingdon Green Stoke Mandeville Loudwater Pennyland Shreding Green Ham Green Marlow Wavendon Gate Kingsash Monkston Bragenham Newton Longville Chartridge Greatgap Hedgerley Wycombe Marsh Ravenstone Sills Yard Granborough California West Wycombe The Badgers Chetwode Slapton Upper Weald Walnut Tree Fawley Bottom Micklefield Bleak Hall South Heath Gayhurst Tattenhoe Longwick Drayton Beauchamp Broughton Stoke Green Fern Lower Bois Soulbury Upper North Dean Darvillshill Haddenham Ashley Green Crafton