What are Winding Up Petitions?
A winding up petition is a formal legal demand made by a creditor against a company to request the court to force the compulsory liquidation of the company.
It is a serious step taken by a creditor when the company owes them a significant amount of money, and all attempts to recover the debt have been unsuccessful.
Dealing with Winding Up Petitions and common scenarios that lead to them
Try Not To Panic
It’s understandable to feel stressed or anxious upon receiving a winding up petition. However, panicking is generally not helpful and can even hinder your ability to address the situation effectively.
Seek Professional Advice
Speak to us! We are experienced in dealing with winding up petitions and will provide guidance on the best course of action to take.
Winding up petitions are a serious legal action taken by creditors against a company, it’s imperative to seek immediate advice in order to recover your business.
Expert Knowledge