Being issued with a winding up order by the courts is undoubtedly one of the most difficult trials any director could potentially undergo. After months of working to resolve payroll, cashflow and even HMRC issues, intervention from the legal system due to unpaid debts can seem like the final stage of the company’s lifespan.
Given that there is often a tremendous amount of personal investment at stake, you may be shocked to learn that not all directors know their full responsibilities or options in this situation. By collecting all the facts and knowing your legal position, it is possible to form a plan to drive your operation back to full financial recovery.
McTear Williams & Wood has over 25 years’ experience helping businesses in turmoil recover to full profitability. We have a range of tools at our hands including company voluntary arrangements, relaunching as a new entity or even liquidating the company on your terms without proceedings being overseen by The Official Receiver.
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.
One piece of advice we give to all our clients is to act quickly and decisively. Arrange a meeting to discuss your winding up petition at our Southampton offices and one of our senior partners will provide you with free confidential advice. Access the full spectrum of potential insolvency solutions and make the best choice for your future and finances.
How else can we help? Other services we offer in your area: