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Specialists in Winding Up Petitions and Corporate Insolvency

Winding up petitions generally come about as a result of corporate insolvency when a company cannot afford to pay its debts. When a creditor that is owed more than £750 decides they have had enough, they can present a winding up petition to court and the involuntary liquidation process begins.

The Process

More on the process of winding up petitions is detailed here, on our website, along with their consequences to the company, its directors and its employees, but what brings about such situations - where listed and unlisted companies reach a stage when they are unable to pay a £750 debt?

Reasons to apply for a winding up petition

Part of the reason is an inability to accurately forecast the effect of world events, although it might also have a great deal to do with over-borrowing on the part of some businesses (and nations) to help them out of the mire. The result is increased costs of repayment over what was budgeted, and hence some companies being unable to meet their financial commitments. It is not necessarily these companies that face winding up petitions, but others that rely on their success: subcontractors and customers who rely on the success of a company that folds also tend to face corporate insolvency, and so the domino chain begins.

How can we help?

We offer advice on corporate insolvency and winding up petitions and offer a means of getting out of the mire without getting stuck too firmly. There are things that can be done to help your company stay in business, and if that is not possible at least to enable those businesses depending on yours get that bigger slice of the pie that might help them to remain solvent and reduce the effect on other businesses and local communities.

 

 

 
 


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