If your company is in severe financial difficulty or is owed money and the debtor is not paying, then you can consider petitioning the court to wind up your company or the debtor’s company.
Winding up could be described as a terminal option because it takes the process out of your hands and offers no guarantees that you will recover any money – the likelihood in most cases is that you won’t.
However, it is an option to consider if nothing else has worked in recovering monies owed to you or your company.
This type of process can often be seen to be very complex. However, if you take the right advice then it can be a relatively pain free and straightforward process.
The crucial part is that advice is sought early so that all available options can be explored and considered.
We can provide expert advice in relation to the preparation, filing and service of the winding up petition through to the advertisement of the petition and also we can arrange through our connections with various sets of barristers chambers the appropriate individual to represent you or your company at the hearing of the petition at the court.
Our team can offer advice from experienced solicitors in a commercially sensitive and pragmatic way that allows you as the client to make a fully informed decision based on all the available options.