Adjourn a petition to wind-up your business

If a company is subject to a petition from a creditor that it should be wound up (or is subject to any other enforcement proceedings which may be followed by a petition for winding up) advice and representation can be provided which would allow the directors of that company to achieve the adjournment of those proceedings, while finance is obtained to allow settlement of liabilities (see…………), or the company enters an alternative formal process which allows the rescue of the company’s business as a going concern or a better outcome for creditors and directors.

Even if a company has actually become subject to a Winding Up Order, if an application is made to the court for a stay of the Order before the Order is “perfected”, i.e processed and stamped by the court offices, it is possible to liaise with the Insolvency Service (The Official Receiver) regarding seeking the approval of the court or creditors, where appropriate, for the company to enter alternative formal insolvency proceedings, e.g Administration or Company Voluntary Arrangement (“CVA”) in order to preserve the company’s business as a going concern or otherwise maximise realisations.