Winding Up Petition

Winding Up Petition – Insolvency Action Against a Company

• Step One

  The Winding up Petition is presented in the District Registry and is personally served on the Company at its registered office address.

• Step Two

  Following service of the Winding up Petition this is then advertised in the London Gazette.

  This usually results in the Company’s bank account being frozen thereby affecting its ability to trade, which is often enough of a threat to prompt payment of the debt and costs.

• Step Three

  If no response is received from the debtor to the Winding up Petition the Court usually orders that the debtor be wound up at the hearing, as long as all the required formalities have been complied with and a liquidator is then appointed.

  If you wish to formally liquidate the company at the final hearing stage, then you would need to pay a further £1550 + VAT being the balance of the Official Receivers Fees however this is entirely optional.