Legal Protection & Expert Guidance
Facing a winding up petition can threaten your company's survival. Our expert team provides immediate support and strategic solutions to help you respond effectively and protect your business interests.
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A comprehensive guide to understanding this serious legal action and how to respond
A winding up petition is a legal document filed with the court by a creditor who is owed £750 or more. It requests that the court orders the compulsory liquidation of your company due to unpaid debts.
This is one of the most serious actions a creditor can take against your business and must be addressed immediately to avoid forced closure.
Once a winding up petition is issued, you typically have only 7 days before it's advertised in the London Gazette. After advertisement, your bank will likely freeze your accounts, making it nearly impossible to continue trading.
Get Immediate HelpUnderstanding each stage helps you respond effectively and protect your business
A creditor sends a statutory demand for payment of a debt exceeding £750. You have 21 days to respond.
If the debt remains unpaid, the creditor files a winding up petition with the court. You'll receive a copy of the petition showing the court hearing date.
The petition is advertised publicly 7 days after filing. This is when banks typically freeze your accounts and trading becomes extremely difficult.
The court hearing typically occurs 6-8 weeks after the petition is filed. The judge will decide whether to grant the winding up order.
If the order is granted, an Official Receiver is appointed to wind up the company, sell assets, and distribute funds to creditors. Directors lose control entirely.
Strategic options to protect your business and prevent forced liquidation
The most straightforward solution is to pay the debt in full, plus costs. This immediately stops the proceedings and allows you to continue trading normally.
Negotiate with the creditor to accept a reduced settlement or payment plan. If they agree, the petition can be withdrawn before the court hearing.
If you genuinely dispute the debt or there are procedural errors, you can apply to the court to dismiss or adjourn the petition with legal representation.
Placing your company into administration provides immediate protection from creditors and gives you breathing space to restructure or sell the business.
Propose a CVA to restructure debts with creditor approval. This can halt the petition and allow you to continue trading while repaying debts over time.
If the business isn't viable, choosing CVL instead of compulsory liquidation gives you more control and better protection for directors.
Every situation is unique. Our experts will assess your circumstances and recommend the best strategy to protect your business and personal interests. Get personalized advice within 24 hours.
Free Strategy ConsultationUnderstanding your personal risks and how to safeguard yourself during this challenging time
Director Disqualification
The Insolvency Service may investigate director conduct and seek disqualification orders lasting 2-15 years
Personal Guarantees
You may be personally liable for debts secured with personal guarantees, including property charges
Wrongful Trading
Continuing to trade when you knew the company was insolvent can result in personal liability for additional losses
Misfeasance Claims
The Official Receiver may pursue claims for breach of director duties or misuse of company assets
Act Immediately
Seek professional advice as soon as you receive a statutory demand or petition to maximize your options
Document Everything
Keep detailed records of decisions, financial assessments, and professional advice received
Stop Trading Responsibly
If insolvency is likely, cease trading to avoid wrongful trading allegations and additional creditor losses
Consider Formal Insolvency
Choosing CVL or administration voluntarily demonstrates responsible director conduct
Our team provides confidential assessments of your personal liability risks and develops strategies to protect you from disqualification, personal guarantees, and legal claims. Your situation remains completely confidential.
Director Protection HubQuick answers to common concerns about winding up petitions
Explore our comprehensive range of business support services and helpful resources
Learn how administration can provide protection and breathing space to restructure your business.
Understand the compulsory liquidation process and how to defend against court-ordered closure.
Explore CVL as a controlled alternative to compulsory liquidation with better director protection.
Urgent guidance on responding to statutory demands before they escalate to petitions.
Comprehensive protection strategies and advice for directors facing business challenges.
Restructure your debts with creditor approval while continuing to trade and grow your business.
Free online assessment to evaluate your business situation and identify the best course of action.
Download free templates, guides, and checklists to help you navigate your business crisis.
Immediate support available around the clock for critical business situations requiring rapid action.