Winding-Up Petitions

A winding-up petition is a legal action commenced by a creditor against a company that owes them an unliquidated debt of more than £750. It is typically filed with the court and, if approved, can lead to the appointment of an insolvency practitioner to compulsorily liquidate the company’s assets and distribute the proceeds among all the creditors to repay the company’s debts.

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If you are owed a debt

If you’ve tried everything to recover a debt without success, serving a statutory demand can be an effective and relatively low-cost way to compel payment. Defined under the Insolvency Rules 2016, it gives the debtor 21 days to pay before you may petition the court to wind up the company. This formal demand often prompts quick repayment or negotiation, as it signals serious intent. If payment is still not made and the debt isn’t disputed, the court can order the company’s liquidation, with an official receiver appointed to distribute assets. However, creditors should seek legal advice first—issuing a demand for a genuinely disputed debt can backfire and should instead be handled through normal court proceedings.

Why Choose Muldoon Britton?

At Muldoon Britton, we combine legal precision with commercial insight to deliver practical solutions in insolvency and debt recovery. Our experienced solicitors act swiftly and strategically to protect our clients’ interests, guiding them through complex proceedings with clarity and confidence. We’re committed to achieving effective results, resolving disputes efficiently while maintaining the highest professional standards.

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Proven track record in winding-up petitions and insolvency proceedings

Regulated by the Solicitors Regulation Authority and trusted by businesses and creditors

Decades of experience handling corporate debt recovery and enforcement matters

Commercially focused, efficient approach aimed at swift and cost-effective outcomes

Extensive experience before the Insolvency and Companies Court and higher courts

If you have received a Statutory Demand

If your company has been served with a statutory demand, it’s vital to act fast. You have 21 days to pay, agree on repayment terms, or apply for an injunction if the debt is genuinely disputed. Prompt legal advice is essential to protect your business from financial or reputational harm. Whether you’re defending a winding-up threat or considering issuing a statutory demand yourself, our experienced solicitors can guide you through the best course of action.