What is a winding up petition? What do we do if we get a Petition?

17 September 2009

We have launched a new guide page to these frequently asked questions today.

Click the title above to go to that page.

These are very common questions that we hear every day! It is often because directors have left things too long and creditors have got upset. So, if you or your client's are receiving threats of winding up petitions (usually from irate creditors OR their solicitors) then you are heading down a very rocky road.

You must get help and take action.

What is a Winding Up Petition?

This is the most serious action that can be taken against the company. Usually the company has breached any trust the creditor had, payment deals have failed, cheques bounced and generally the directors have not kept their word. So the creditor reacts with the “nuclear” option.

If a creditor elects to wind the company up, it is serious in its intent to recover the money it is owed and / or to put the company out business.

Got these threats now from Revenue & Customs or trade suppliers??? ACT now and call for help

KSA Group 0800 9700539