Winding Up Petitions
A winding up petition is an order to wind up a limited company for unpaid debts amounting to more than £750. Usually this process is started with a statutory demand notice being issued providing the debtor with 21 days to pay an outstanding debt.
At Muldoon Britton, our winding up petition solicitors are able to assist with your case, should you wish to commence legal proceedings to obtain a winding up petition against a debtor. It is important to note that winding up petitions are only suitable for debt that is unlikely to be disputed. If you suspect that a dispute may arise, it is usually better to obtain a judgement prior to the issue of a winding up petition. Failure to do so could see the case being referred to the High Court and extensive legal costs being referred back to you. It is for this reason that it is essential that you seek advice and representation from solicitors who have expertise in winding up petitions.
If you are successful in obtaining a winding up order, usually your legal costs are recovered from the debtor. If a debt is dismissed however prior to or during a hearing, the legal costs remain with the creditor.
Expert Winding Up Petition Lawyers
Should you require expert solicitors to seek advice on winding up petitions, or are in need of specialist winding up petition solicitors to act on your behalf, then please contact us at Muldoon Britton.