Concerned about a
Company Winding Up Order?
Don’t worry. Help is here.
If your company owes money, either to the tax man or a supplier, they may decide to ask the Court to make a Winding Up Order. If this is happening to you – we can help.
You may receive some paperwork from the person you owe money to, stating a date and time when the Court will consider the creditor’s petition. At that hearing, the Court will decide whether to make the Winding Up Order (which means that the company will be ‘in liquidation’) or whether to adjourn or strike out the petition.
What can be done?
If the company can afford to make sensible payments towards paying off the debt, a payment arrangement may be possible. This will need to be agreed with a majority of all the creditors, not just the one that has filed the petition. So even if one creditor has lost patience and is seeking a Company Winding Up Order, the other creditors may ‘outvote’ the creditor that has petitioned. If the payment arrangement is agreed, the winding up petition will be dismissed and all creditors will be bound by the terms of the arrangement. We can advise whether a payment arrangement is likely to be agreed in your case and, if you think this will help to rescue your company, we will deal with all the formalities and negotiations on your behalf. We will then make sure that the Court dismisses the petition.
What should I do next?
For confidential, expert advice on what to do when you are facing a Company Winding Up Order, call our national helpline now on 01709 331300.
We offer a free, no obligation consultation where we can explore all the options and help you to make the right decision for your company.
Act today – before its too late. Call us now on 01709 331300 to find out how we can help, even if the Court hearing date is in the next few days.