Tag: Winding Up Petition

Can a Creditor Withdraw a Winding Up Petition?

Although unusual there are cases where winding up petitions can be withdrawn but the odds will be stacked against a company once a creditor decides to take this step.   Winding up orders can carry risks to creditors themselves as well as the business they are serving it on, therefore withdrawing the order would require a…




Just Been Issued With A Winding Up Order – What Happens Now?

If you’re a business owner the one thing you don’t want to receive is a winding up petition because this means you’re creditor is serious enough to take the ‘nuclear’ option when it comes to recovering money. So what do you do as a director? How do you react to this threat to your business?  …




Reality Check – Why The Ability To Pay Debts Is Critical

You see it time and again on the news. Companies going insolvent in a dramatic turn of events which seems almost to have happened over night. Where company owners and directors in these cases unaware that debt had reached the point of no return? Or is it often just a case of collective denial of…




How To Stop A Winding Up Petition

If a creditor runs out of patience waiting for a debt to be paid then they can opt for a winding up petition against your company. It has to be said that this is usually a last resort taken by a creditor when all other avenues have failed, which is why it shouldn’t be ignored…