Helping directors online for over 23 years.
The winding up petition hearing is to be held at Companies Court on Monday 19th September. It has not yet been advertised, so it’s difficult to say who served the petition but the debt would have to be more than £750.
Even if payment of debt is settled beforehand, the hearing still goes ahead which could be the case for Nottingham Forest.
If the company is solvent, the winding up petition could prove to be abuse of process as petitions are only meant to be served if the company can’t pay debts as and when they fall due. Sometimes creditors will serve a petition to scare the debtor, knowing full well the debtor has sufficient money to repay the debt.
If it is abuse of process, the case will be thrown out of court and the petition dismissed.
The football season has just started so the hearing may have been put off until now, however this is only speculation.
There have been quite a few winding up petitions and dismissals in the last few years so we suspect it will be dismissed this time as well.