Winding Up Petition Cwmgiedd in Cwmgiedd

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 Cwmgiedd (Powys)

Get in touch

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


Skip to

Gallery

Other locations available for winding up petition cwmgiedd
Rhiwlas Llaithddu Felinfach Bryn Tanat Alltmawr Old Radnor The Marsh Glascwm Pengenffordd Wern White Grit Llanstephan Camnant Craig-y-nos Builth Road Cwm Irfon Llandysilio Glan-rhyd Lower Chapel Cilcewydd Llanfihangel Nant Bran Scrwgan Llansilin Danygrug Dolyronnen Pentre Barland Garn Pwllgloyw Y Fan Llan Walton Frank's Bridge Bwlch-y-cibau Stanner Pant Mawr Crug-y-byddar Dol-fâch Coldbrook Gwernafon Bwlch y Garreg Trewythen Pentre-llymry Cemmaes Ferley Pool Quay Pant-y-rhiw Rhulen Stepaside Maesypandy Glangrwyney Hurdley Priddbwll Pentre-bach Nantserth Llandefaelog Crossway Builth Wells / Llanfair-ym-Muallt Darren Llananno Clatter Llanwrtyd Wells Hundred House Bronydd Dolcorsllwyn Gore Cefn Llangurig Penarron Pilleth Libanus Penstrowed Groes-lwyd Rhos Common Hyssington Llanbister Discoed Aithnen Trefnanney Crowther's Pool Four Crosses Pontrobert Broneirion Capel-y-ffin Cefn Côch Beulah Lloyney Appletree Penygelli Ystradfellte Rhos-y-brithdir Pont ar Hydfer Disserth Sarnau Dardy Newtown Trawscoed Evenjobb / Einsiob Llugwy Geuffordd Llanfyllin The Green Garth Abergwesyn Great Cellws Scethrog Nantgwyn Talgarth Llanbrynmair Glaspwll Pen-isa'r-waen Gilwern Cefn Canol Pont Rhydgaled Erwood / Erwyd Llowes Cilmery / Cilmeri Llanwddyn Henllan Cwmdu Pentre Gurnos / Y Gurnos Groesffordd Fenni-fach Elan Village / Pentre Elan Pennant Melangell Cefn-gorwydd Cwm-y-gaist Pennant Guilsfield / Cegidfa Brynllywarch Ffridd Glyn Felindre Trelydan Llandefalle Fron Belan Plas Dinam Glynbrochan Cwm-bach Moelfre Llandrindod Wells / Llandrindod Pentre-llwyn-llwyd Heniarth Rhyd Talybont-on-Usk Boughrood / Bochrwyd Llancowrid Staylittle / Penffordd-Lâs Llanhamlach Penygelli Llanafan-fawr Knighton / Tref-y-Clawdd Castle Caereinion / Castell Caereinion New Mills / Felin Newydd Dôl-forwyn Ffordd-las Tynyrwtra Llangors Burlingjobb Penybont Boughrood Brest / Brest Bochrwyd Llanllwchaiarn Forge Llandeilo'r-Fan Llanfihangel Rhydithon Buttington Penegoes Llechfaen Ddôl Cownwy Gwystre Pencommin Brecon / Aberhonddu Llaneglwys Llanfechain The Colony Ystrad Uchaf Cregrina Llanwrin Caerhowel Wig Colva Caersws Pant-y-ffridd Michaelchurch-on-Arrow Cil David's Well Llaethdy Heol Senni Kinnerton Pentre Knucklas / Cnwclas Pont-faen Glanhanog Hengoed Ffynnonau Norton Main Criggion Bryn-penarth Heartsease Cyffredyn Llanfaredd Leighton / Tre'r llai Penrhos Mochdre Gaer Nant-glas Llanfihangel Tal-y-llyn Pontneddfechan Esgairgeiliog Old Church Stoke Bwlch-y-sarnau Hodley Hay-on-Wye / Y Gelli Gandryll Dolley Green Commins Gungrog Tredustan / Tredwstan Trecastle / Trecastell Warle Aberhosan Llanbadarn Fynydd Burgedin Waun Fach Moity Garthmyl Gorof Caeralem Glanmule Battle Llyswen Llansantffraed-in-Elwel Upper Chapel / Capel Uchaf Llawr-y-glyn Plâs Llwyngwern Llwynderw Llansantffraed Montgomery / Trefaldwyn Partrishow Ceri / Kerry Crickadarn Llanfrynach Hopton Uchaf Waen Dolanog Felindre Pennorth Snead Llandegley Tan Hinon Aberbran Llansanffraid-ym-Mechain Llywel Moel Ddolwen Newbridge-on-Wye / Y Bontnewydd-ar-Wy Thorn Gladestry Presteigne / Llanandras Abbeycwmhir / Abaty Cwm-hir Cwm-twrch Uchaf Newtown / Y Drenewydd Llanerchydol Llanigon Crewgreen Milford Foel Doldowlod Howey / Hawy Tretower / Tretŵr Llanfechan Glynhafren Berriew / Aberriw Llanelwedd Llanddewi'r Cwm Llanfihangel-helygen The Stubb Gwerneirin Pant-y-dŵr Melinbyrhedyn Crossgates / Y Groes Cwmrhos Defynnog Llanddewi Ystradenni Llanyre / Llanllyr Churchstoke Cwmbach Llandeilo Graban Nant-ddu Cross Oak Monaughty Pont Llogel Manafon Winllan Tregoyd Mill Cemmaes Road / Glantwymyn Llwynygog Little London Penrhos Penthryn Varchoel Wern Llanllugan Glan-y-nant Bwlch-y-ffridd Bwlchyddar Pen-y-bont Llanerch Emrys Tirymynach Newbridge Cradoc Adfa Waen-fâch Trefeglwys Llanfaes Llangadwaladr Ystradgynlais Bleddfa Llanbedr Llanbedr Heartsease Geseilfa Waen Frochas Pencraig Talerddig Bwlch Llanwrthwl Painscastle / Castell-paen Llangunllo Llangenny / Llangenau Tirabad Tregoyd Weythel Sennybridge / Pontsenni Llanywern Llanwyddelan Pentre Cilcwm Bryngwyn Walton Green Plas Meredydd Pant-glas Bishop's Moat Domgay Broad Heath Ceinws Abertridwr Meifod Garth Owen Ponde Hirnant Llangadfan Braichyfedw Rhos Pentre'r beirdd Llanspyddid Dolhelfa Tal-y-Wern Alport Troedrhiwdalar Weston Madoc Newchurch / Llannewydd St Harmon Llangyniew Llanddew Panpunton Tredomen Llanfilo Cefn Mawr Llanymynech Cloddiau Brunant Coelbren Penybontfawr Derwenlas Llanfihangel-Nant-Melan Soar Melin-y-ddôl Gravel Womaston Dolau Carnedd Burgess Lands Cefn Cantref Pen-common Glan-Frogan Hill / Bryngwyn Ffawyddog Pen-y-cae Dutlas Caehopkin Rhos-goch Frochas Aber Rhaeadr Pentre Llifior Pentre Dolau Honddu Glyntawe Coed-yr-ynys Bwlch-y-Plain Rhos-y-meirch Maesyrhandir Darowen Bettws Cedewain Crickhowell / Crughywel Felindre Llansantffraed-Cwmdeuddwr Cwmgiedd Pentyrch Llanidloes Llanarmon Mynydd-mawr Forden / Ffordun Llandrinio Llanbadarn-y-garreg Pont Felin-y-ffrîdd Ynyswen Llanmerewig Milton Pontithel Plasnewydd Dolyhir Coed-y-wlad Trehafren New Wells Pentrefelin Penygloddfa Cwmcrawnon Cathedine Llanerchemrys New Radnor / Maesyfed Aberbechan Three Cocks / Aberllynfi Garthbrengy Felin-Crai Rhayader / Rhaeadr Gwy Llangynidr Brooks Dwyrhiw Machynlleth Cwm-twrch Isaf Trefnant Y Gribyn Pendre Llanfair Caereinion Hendomen Felindre Fron Llandinam Yardro Old Neuadd Plasiolyn Moel y Garth Tylwch Deuddwr Trelystan New Well Warden New Mills Llangynog Aber Cascob Uplands Welshpool / Y Trallwng Slough Haughton Cefn Coch Abercegir Penygarnedd Y Wig Cae'r-Lan Llansantffraidd-ym-Mechain Ynys-isaf Ynys-uchaf Dolymelinau Legar Tregynon Merthyr Cynog Pontwilym Dylife Pedair-ffordd Milebrook Llandyssil Llanelieu Aberyscir Pandy-rhiw-Saeson Fishpools Llangedwyn Crossways Gaufron Arddleen / Arddlin Cwm Hopton Isaf Cwmbelan Beguildy / Bugeildy Cwmbach Llechrhyd Dolfor Penwyllt Maesmynis Sarnau Talachddu Four Crosses Llandefaelog-tre'r-graig Trewern Downton Cae'r-bont Abercrave / Abercraf Nantmel Bronllys Heyope Llanbister Road Green Lane Glasbury / Y Clas-ar-Wy Groespluan Pont-y-bryn-hurt Brynderwen Cwm-Llinau Pentre'r-felin Llangammarch Wells Cwmwysg Glanrhyd Pencelli Coedway Fron Crai Commins Coch Llanifyny Felindre Trefecca Bacheldre Llanrhaeadr-ym-Mochnant Llangattock / Llangatwg Llangasty-talyllyn Gwenddwr Llanfihangel-yng-Ngwynfa Aber Village Ciltwrch Pentre Harpton Glascoed Tyddyn Pont Rhyd-y-berry Tre-derwen Trallong Trefeitha Nantoer Pont-y-wal Middletown Penisha Rhos Gleiniant Haimwood Pontdolgoch Efail-rhyd Llanwrtyd Tai'r Bull Fishpool Heol-y-gaer Abermule / Aber-miwl Sarn-y-bryn-caled Dol-y-cannau Plas-rhiw-Saeson Tycrwyn Trwstllewelyn Sarn Carno Treberfydd Tafolwern Aberedw Clyro / Cleirwy Bont Dolgadfan Llanwnog Refail Aberhafesp Clydach Terrace Gregynog Llanerfyl Ffynnon Gynydd Hope