Receiving a winding up petition is a challenging time for any business and its directors. Despite red flags such as cashflow problems, difficulties with HMRC and late payroll having one of your creditors turn this into a matter for the courts can often seem like the end of the road.
With the court looking to appoint The Official Receiver to liquidate the company a winding up petition is likely to seriously impact a company’s ability to conduct business. However, many directors do not fully understand the legal and financial implications of this order.
Get the full picture from McTear Williams & Wood. By acting quickly and contacting our team, you’ll access our considerable depth of insolvency experience, helping furnish you with the information you need to move forward. CVAs, time to pay agreements, pre packs and even voluntary liquidation could allow you to take control of this situation.
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.
Discuss your winding up order at our Kettering offices with one of our senior advisors.
In a free, confidential one to two hour appointment we’ll give you a full appraisal on both the legal and financial implications of your current situation.
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