BLOG POST
How Do You Issue a Winding Up Petition?
A Winding Up Petition (WUP) is the most serious action that can be taken against a company and usually is only issued if a creditor is determined to recover an undisputed debt or put the company out of business because the debtor company is believed to be insolvent.
The creditor will issue a statutory demand, which is a formal notice giving the debtor 21 days to settle the debt. If it remains unsatisfied after that time the creditor makes an application to the High Court or a Chancery Court (a division of the High Court) District Registry to wind the company up.
If you receive a WUP, you must act quickly and should contact business expert Peter Murray on 020 7504 1300 immediately as there may still be time to discuss options such available to for the company. This does not have to be the end of the road if you wish to carry on trading .
The Psychology of Investment Decisions
When an investment fails, people often ask: “How could so many intelligent people have invested?” The question is understandable. It is also based on a…
Could You Already Have an Overdrawn Director’s Loan Account?
The Director’s Loan Account Knowledge Centre: The Hidden Liability on Thousands of Company Balance Sheets Thousands of company directors have an overdrawn Director’s Loan Account…
What Do Investor Reliance Questionnaires Really Tell Us?
When lawyers analyse investment disputes, one question often proves to be more important than any other: what persuaded investors to part with their money? Having…
The Director’s Loan Account Trap
The Complete Guide for Company Directors Introduction Most company directors understand cash flow, sales, and profitability. Far fewer understand their Director’s Loan Account (DLA). That…