Winding Up Petition Upton in Upton

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