Winding Up | Bankruptcy Petitions

/Winding Up | Bankruptcy Petitions
Winding Up | Bankruptcy Petitions2015-02-09T21:58:24+00:00

Winding Up | Bankruptcy Petitions

Whether you wish to serve or have been served with a Winding Up or Bankruptcy Petition, we can assist you.

Petitions are frequently used as a debt recovery tool for commercial debts over £750 in value. If you wish to serve a petition for this purpose you will find our rates extremely competitive (see the terms and conditions on our on-line debt recovery page).

All too often the Petition process is abused. Strictly speaking the purpose of the serving of a Petition is to prove the insolvent status of an individual or company.

Frequently Statutory Demands for payment and Petitions are served when there is a dispute in relation to monies owed. In these circumstances urgent action is required. If the presenter of the demand or Petition cannot be persuaded to withdraw an injunction application will need to be made at court to stop the presenter taking further steps, such as advertising of the Petition prior to any court hearing. Any advertising creates the danger of a serious cash flow crisis as the result of the withdrawal of credit facilities by lenders and suppliers. Rightly or wrongly they often assume the company or individual is in grave financial difficulties.

Do not delay in seeking advice. Contact us now by telephoning 02380 334274.