Receiving a winding up petition can be one of the toughest times in any director’s life. Even though there may have been issues with creditors, cashflow and payroll building up to this event no-one wants to discard their hard work at the whim of the courts and The Official Receiver.
And of course such an event is likely to compromise a company’s ability to operate and contend for commercial opportunities. However you may be surprised to find out how few directors understand the implications of a winding up petition nor the options available to them.
Fortunately McTear Williams & Wood can provide you with access to 25 years’ experience working in insolvency. It may still be possible for you to arrange a payment plan with creditors or HMRC or even shed the unprofitable sections of your business and relaunch as a new entity.
How it works
Work with the main creditor - by communicating with the petitioning creditor either directly or by feeding you the lines we can start to move the matter towards an effective resolution.
Find you more time - our team can adjourn your Court hearing giving you valuable space to carry out the vital negotiations free from the negative impact of a court judgement.
Demonstrate that your business is still viable - if we think there is enough cause we can create a case for the court showing that there is a definite pathway for you to return to profitability.
Secure a validation order - if you wish to continue trading let McTear Williams & Wood help you obtain a validation order from the Court.
During an informal meeting to discuss your winding-up petition at our Bournemouth offices one of our senior advisors will go through all your choices. Act quickly and decisively and furnish yourself with all the available information to best determine the future for you and your company.
How else can we help? Other services we offer in your area: