Winding Up Petitions
Mistakes to avoid when issuing a Winding Up Petition
When issuing a Winding Up Petition, it’s integral that every piece of information that identifies the company is correct. To be successful, your application must include the following accurate information: Company name Registered office address Company registration number information Shareholder information (aggregate number and value of issued and paid up share capital). A lot of…
Read MoreStat Ds and undisputed, but overdue invoices
Issuing a Statutory Demand (or Stat D) is an effective way to encourage prompt payment of overdue invoices and debts, but it’s not the only method. A Stat D is a formal document requesting payment of an outstanding debt within 21 days. By issuing one, you give creditors another 3 weeks to pay a debt…
Read MoreCCJs, winding-up petitions and undisputed debts
Sometimes, you may need to issue a County Court Judgment (CCJ) or a Winding-Up Petition on an insolvent company that owes you money. But what’s the difference? County Court Judgments usually come about when a company refuses to pay an overdue debt. The creditor (claimant) who’s owed money commences proceedings by visiting the Government’s website,…
Read MoreHow to react to a HMRC winding-up order
Being served with a Winding-up Petition from Her Majesty’s Revenue and Customs (HMRC) is a daunting prospect that requires a swift response. If you receive a petition, HMRC will obtain a court order forcing your company into Compulsory Liquidation unless you pay the taxes you owe. According to the Insolvency Rules of England and Wales…
Read MoreStatutory Demand vs Pre-action letter
Pre-action letters and Statutory Demands (also known as Stat Ds) are useful tools for chasing longstanding and undisputed debts. But how do they differ? Firstly, the names of the participants involved. Whoever issues the Statutory Demand is an ‘applicant,’ but the sender of pre-action letter is a ‘claimant’. Likewise, the recipient of Stat D is…
Read MoreDid Sir Philip Green asset-strip BHS and cause its collapse?
Giving evidence to a government inquiry recently, Sir Philip Green claimed to have worked diligently to avoid one of his best-known retail brands going into liquidation. Nevertheless, the Insolvency Service must establish if Sir Philip had asset-stripped BHS and caused its collapse. Last month, fashion tycoon Sir Philip appeared before the Business, Innovation and Skills…
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