Winding Up Petition Machroes in Machroes

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 Machroes (Gwynedd)

Get in touch

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


Skip to

Gallery

Other locations available for winding up petition machroes
Tywyn Lôn Trefor Llanfair-yng-Nghornwy Pen-gilfach Newborough / Niwbwrch Llanedwen Llanfaes Talwrn Tal-y-llyn Engedi Dinas Llanfaelrhys Rhoslefain Penrhyndeudraeth Nantmor Mynydd Gilan Llechcynfarwy Llanfaelog Porth Dinllaen Bryn-coed-Ifor Minllyn Hirael Penrhosfeilw Garth Beddgelert Carmel Penrhos Garnedd Saron Llanfachreth Aberdovey / Aberdyfi Bethel Garnfadryn Trefaes Pont-Rhythallt Fachell Bethania Caergeiliog Llandegfan Rhos-fawr Nebo Dolgoch Bodedern Llanarmon Cwm-Cewydd Newlands Park Môrawelon Chwilog Glan-yr-afon Capel Gwyn Corris Uchaf Cwrt Dolbenmaen Mynydd Mechell Moel Tryfan Tal-y-bont Dolhendre Aberangell Penrhyd Lastra Groeslon Mynydd Bodafon Llantrisant Llanfechell Capel Mawr Pwllheli Fairbourne Tai'n-Iôn Llanfrothen Betws Minffordd Tryfil Bodewryd Llanbedrog Penycaerau Brithdir Llanbadrig Paradwys Pen-Lôn Rhosdylluan Aber-Cywarch Bwlch-derwin Cenin Llangybi Parc Llwyn Dwyran Tre'r-Llan Gwernydd South Beach / Marian-y-de Tudweiliog Gerddi Bluog Friog Dothan Capel Uchaf Efailnewydd Mariandyrys Tregaean Aberllefenni Llangelynin Pen-y-groeslon Rhyd Rhôs Lligwy Penbodlas Isallt Bach Pont Hwfa Rhos-y-gwaliau Beaumaris Llansadwrn Gwalchmai Isaf Croesywaun Porth Swtan Llanystumdwy Rhos-y-bol Pen-sarn Tremadog Abergwyngregyn Bodffordd Hên-durnpike Marian-y-mor Bryn-y-mor Y Ffôr Cerrig-mân Llanbedr Llangian Crymlyn Pennal Penyffridd Corris Pennant Gwalchmai Uchaf Gadfa Ynys Cemaes Llanfihangel-y-traethau Fryars Bay Llanaelhaearn Rhosneigr Fachwen Croesor Anelog Groesffordd Stryd Llandwrog Llandyfrydog Trefor Pentraeth Tywyn Fferam Heneglwys Valley / Y Fali Rhostrehwfa Llangoed Coed Mawr Dolydd Penlan Llanddeiniolen Capel Parc Tregele Llanddona Wern y Wylan Llanllechid Llaingoch Y Wern Uwchmynydd Rhyd-yr-onen Trearddur R Efail Estate Gyrn Goch Talsarnau Parciau Pant Afon Wen Llanynghenedl Braichmelyn Rhiwbryfdir Mallwyd Llandanwg Llanegryn Abersoch Llanelltyd Dol-ffanog Goferydd Llanberis Elim Llwyn-hudol Ceidio Frongoch Trefdraeth Bangor Coed-y-parc Pencarnisiog Rhôs-y-llan Ceunant Cwm-y-glo Bronaber Bryncroes Llanycil Morfa Nefyn Bethel Abergynolwyn Aberdaron West End Bachau Clynnog-fawr Caernarfon Glanypwll Llithfaen Cilan Dinas Kingsland Dinorwig Ceint Congl-y-wal Aber-Tafol Y Felinheli Llanfairyneubwll Oakeley Square / Sgwar Oakeley Penrhydlyniog Penmaenpool / Llyn Penmaen Wenallt Tal-y-waenydd Penysarn Bron Ogwen Maen-Offeren Llanengan Garreg Gwastadnant Bethesda Llanfachraeth Soar Bryngwran Tonfanau Botwnnog Edern Tan-y-mynydd Dolgellau Bryn Du Twr Carreglefn Pen-llyn Rhiwlas Braich-talog Aberdesach Llanrhuddlad City Dulas Upper Bangor / Bangor Uchaf Manod Porth-y-felin Pentrefelin Llanaber Porth Colmon Capel Coch Llanwnda Llanfflewyn Rhos Llaniestyn Pentre Berw Pen-y-graig Golan Peniel Pen-Iôn Tal-y-bont Pen y Bryn Bodermid Llanbabo Maesgeirchen Gaerwen Llanidan Menai Bridge / Porthaethwy Mona Rhos Isaf Sling Minffordd Pistyll Llanymawddwy Llanfair Llandderfel Tan-y-maes Tan-y-bwlch Vaynol Hall Brynglas Sta Penygroes Rhiwlas Tyn-lon Brynrefail Carmel Trawsfynydd Llanfihangel yn Nhowyn Brynsiencyn Penrallt Seion Llangwnnadl Pontllyfni Pant Eidal Waen-wen Talardd Rhydymain Maentwrog Glan-yr-afon Marian-glas Glan-yr-afon Star Rhosgoch Llandecwyn Llanddeusant Cutiau Llan Ffestiniog Nannau Gwredog Rhos-meirch Bryn Bwbach Bont Newydd Eisingrug Llecheiddior Llandygai Prenteg Penmon Trefeini Nasareth Llanfigael Pengorffwysfa Carreg y Gath Portmeirion Bryn-Llwyd Gryn Goch Deiniolen Lower Harlech Black Bridge Gwalchmai Rhoscefnhir Waen-pentir Brynrefail Bwlch Penhwnllys Cilfodan Rhôs-porth-ychain Cefn-ddwysarn Llwyndyrys Rhostryfan Tanysgafell Benllech Gallt-y-foel Denio Tan-y-coed Ty Croes Gwastadgoed Bethel Clipiau Llanrug Garndolbenmaen Llanfairynghornwy Cwmystradllyn Llwyngwril Glan-Adda Nebo Penrhyn Burwen Pentreuchaf Felin-hên Llangefni Bryn-mawr Barmouth / Abermaw Penmynydd Llanfwrog Gellilydan Caeathro Rhiw Penllech Llanddaniel Fab Morfa Bychan Llaneuddog Llaneilian Penmorfa Tanygrisiau Moelfre Tai-morfa Llanenddwyn Pant Glâs Llangaffo Talysarn Brynglas Waun Llandegwning Bontnewydd Pandy Ganllwyd Bryncrug Rhiwen Rhydlios Criccieth / Cricieth Glan Gors Minffordd Caim Caerhun Stryd y Facsen Cwmtirmynach Bontuchaf Llechfraith Penrhos Glan Dwyfach Pont-rug Llannor Boduan Harlech Pen-y-bryn Penybryn Glan-yr-afon Rhoscolyn / Llangwenfaen Nantlle Llanllyfni Rhyd-wyn Llangwyllog Glasinfryn Malltraeth Brynteg Mochras / Shell Island Llanbedrgoch Dinas Mawddwy Tabor Llangower Llanfihangel-y-pennant Llanfair Pwllgwyngyll Cae Clŷd Aber Pwll Penygraigwen Aberffraw Tregarth Sarn Mellteyrn Hermon Rhyd-y-gwystl Trefgraig Fedw Fawr Glan-y-wern Rhyd-y-clafdy Llynfaes Sling Pendre Four Mile Bridge Gerlan Hawddamor Pentre Gwynfryn Pentrefelin Maenaddwyn Amlwch Port / Porth Amlwch Arthog Rhoshirwaun Pen-y-garnedd Pantperthog Mynydd Llandegai Myndd Llandegai Bwlchyllyn Cilgwyn Rhyd-Ddu Bwlchtocyn Garth Clwt-y-bont Terfyn Penrhos Tregaian Waterloo Port Llanfihangel-y-pennant Bull Bay / Porthllechog Holyhead / Caergybi Porthmadog Rachub Rhos-ddû Penhelig Bethesda Bach Caerdeon Tyddyn Dai Nantgwynant Ceidio Llanfaglan Coed Ystumgwern Rhoslan Abertrinant Waunfawr Y Bala Rhosgyll Llanddwywe Tyn-y-gongl Capel-y-graig Llidiardau Abergeirw Borth-y-Gest Machroes Drws-y-coed Cerrigceinwen Nant Peris Llangadwaladr Dinorwic Penisa'r Waun Saron Cil-geraint Tan-lan Hen Bentref Llandegfan Hafan y Mor Sarn Bach Bryncir Llaniestyn Rhosgadfan Llangelynnin Bro Rhythallt Llanuwchllyn Amlwch Dinas Dinlle Blaenau Ffestiniog Llangristiolus Llanallgo Mynytho Soar Rhyd-uchaf Dyffryn Ardudwy Bontddu Llanerchymedd Llanfor Morfa Sarnau Red Wharf Bay / Traeth Coch Pentir Llanfaethlu Groeslon Nefyn Pencaenewydd Llanrhyddlad Bethania Y Fron Rhyd-y-sarn Abererch Betws Garmon Bryn Eglwys