Winding Up Petition Rainford Junction in Rainford Junction

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 Rainford Junction (Merseyside)

Get in touch

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


Skip to

Gallery

Other locations available for winding up petition rainford junction
Sandhills Swanside Grange Prescot Liscard Earlestown Westvale Noctorum Parr Clinkham Wood Melling Mount Moss Nook Raby Mere Thurstaston Hartley's Village Woodchurch Whiston Everton Stanley Maghull Upton Oglet Ravenhead Sutton Leach Copple House Princes Park Park Hill Green Bank Arrowe Hill Rainhill Newtown Old Boston Grange Park Liverpool Cressington Park Bidston Hill Southport Litherland Speke Huyton Quarry Ainsdale-on-Sea Billinge Page Moss Bidston St Helens Walton Southdene Irby Whitefield Lane End Green Leach Finger Post Frankby Melling Northwood Longview Bowring Park Poll Hill Vauxhall Otterspool Peasley Cross Woolfall Heath Moreton Victoria Park Sefton Park Edge Hill Nutgrove Toll Bar Ford Barnston Kirkby Upton Meadow Landican Spital Port Sunlight Lady Green Thatto Heath Gillmoss New Boston Moss Bank Brighton le Sands Ashton's Green Horn Smithies Pewfall Dam Wood Allerton Lyme Grove Moor Park Clock Face Brookhurst Churchtown Old Swan Crossens Marshall's Cross Tuebrook Orrell Bromborough Pool Craven Wood Chadwick Green Newton Birkdale Broad Oak Gerard's Bridge Anfield Wavertree Garston Carr Mill Waterloo Park Irby Hill Dingle Great Crosby Fulwood Park Beechwood Lunt Windlehurst Sutton Manor Bebington St Michael's Hamlet Cronton Devonshire Park Raby Stanley Bank Sandfield Park Tithe Barn Hillock Thornton Hough Ince Blundell Woolton Gillar's Green Bromborough Saughall Massie Elm Park Warbreck Park Lydiate Calderstones Thingwall Waddicar Fiddler's Ferry Woodvale Oxton Fincham Brooklands Huyton Farm Meols Birkenhead Bold Heath Waterloo Portico Carr Houses Bootle Simm's Lane End Woodhey Tranmere Hoylake Pensby Freshfield Claughton Walton on the Hill Grassendale Crank Clubmoor Stoneycroft Dacre Hill Kensington Buckley Hill Eastham Ferry Gateacre Homer Green Court Hey Little Altcar Huyton Dove Point Ainsdale Tarbock Green Prenton Marshside Vulcan Village Seacombe Sutton Heath Halewood West Park Blackbrook Childwall Grassendale Park Lower Bebington Greasby Houghwood New Ferry Aigburth Vale Tillerman Court Hillside Knotty Ash Storeton New Brighton Poulton Eastham Aintree Fazakerley Wallasey Poulton Sutton Blowick Garswood Blundellsands Huyton with Roby Oak Hill Park Seaforth Denton's Green Downall Green Mossley Hill Haydock Norris Green Rainford Stockbridge Village Windle Formby Rock Park Little Crosby Netherley Haresfinch Mill Yard West Derby Eccleston Park Thornton Dovecot Roby West Kirby Dog & Gun Kings Moss Wargrave Laffak Pocket Nook Caldy Heswall Rock Ferry Broad Green Newton-le-Willows Parr Stocks Gayton Egremont Brown Edge Woodlands Orrell Park Windy Arbor Toxteth Rainhill Stoops Hightown Hunt's Cross Higher Bebington Knowsley Rainford Junction Belle Vale Cowley Hill High Park Kirkdale Lower Village North Florida Sefton Croxteth Egerton Park Tower Hill Eccleston Lane Ends Netherton Crosby Kirkby Park Holt Brimstage Derbyshire Hill Eccleston Lea Green Huyton Park Leasowe Aigburth Leyland Green