What Is A Winding Up Petition By HMRC or Other Creditor
What Is A Winding Up Petition By HMRC or Other CreditorLicensed Insolvency Practitioners With National Coverage
The director of the transport and logistics company contacted Sarah Massey of KSA to discuss the company’s present financial situation. Then, after a subsequent telephone conversation with KSA regional manager George Davis, a meeting was requested and held.
KSA were appointed in December 2011 to assist the company with on a Plan A, Plan B scenario:
Plan ‘A’ to propose a TTP (time to pay proposal) however, if this was not acceptable to the creditors, then proceed to
Plan ‘B’ a CVA (Company Voluntary Arrangement)
The company had a turnover of £662K in the 12 months ending 2010.
Having acknowledged that the firm was unable to pay its debts as and when they fell due, the director contacted KSA for help and advice.
The company was not fully up to date with its report compliance obligations. HMRC has issued a letter of intent to pass the case to their solicitor to commence the winding up of the company.
KSA resigned from this case in March 2012. This was due to the director not fulfilling his agreement to provide all the necessary information in the agreed timescales.
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