Are you or your business facing a Statutory Demand or Winding Up Petition?
We are leading experts specialising in insolvency proceedings. Our experienced City of London solicitors and barristers regularly assist companies facing a HMRC winding up petition; individuals served a statutory demand; or creditors owed money and considering issuing a winding up petition.
Your search for a solution in relation to debt recovery or to avoid a winding up order ends here. We can guide you through the minefield of complex winding-up rules and procedure and help your company to manage the entire process. We have years of experience in negotiating with debtor companies and their solicitors as well as creditor, shareholder or director petitioners (in particular HMRC).
We regularly represent our client companies in the High Court/Companies Court and successfully obtain adjournments (i.e. to allow time to negotiate and settle or to defend a winding up petition). We also help companies to avoid having bank accounts frozen by preventing the advertisement of winding up petition notices or (if already advertised in the London Gazette) by obtaining a validation order from the Court to unfreeze the company’s bank accounts.
We have a proven track record of delivering legal advice and legal solutions. We know exactly how to get the best results for your business.
Company insolvencies (2018)
Winding up orders (2018)
Winding up petition fee
Debt owed for petition presentation
Reasons to instruct us
authorised & Regulated
Unlike some debt collection agencies or unregulated companies preying on the vulnerable, we give independent legal advice regulated by the SRA and BSB
Our Areas of Expertise
Do you need an Insolvency Solicitor to bring or defend a Winding-up Petition? Adjournment? Time to pay? Statutory Demand? Validation order? Stopping a petition advertisement?
We are a specialist leading City of London law firm based in the Middle Temple Inns of Court adjacent to the Royal Courts of Justice, High Court and Companies Court.
We have the strongest possible record of success in dealing with numerous bankruptcy or winding up petitions and are regularly recommended to clients by leading accountants and leading insolvency professionals.
We advise company directors on the best course of legal and commercial action for the business (for example restraining advertisements, obtaining validation orders to unfreeze bank accounts, obtaining winding up petition adjournments and time to pay HMRC, defending winding up petitions).
We add value by recommending insolvency routes, where appropriate, such as Voluntary Arrangements (CVAs, PVAs, IVAs), Administration or other insolvency routes).
Download our featured authoritative guide to Compulsory Liquidation & Winding Up Petitions
The Company Director’s Guide on Insolvency
Our Insolvency team regularly provide market leading advice to directors of companies and limited liability partnerships. Our work has featured in KSA Group‘s Worried Directors Guide 2018, including our authoritative guide on compulsory liquidation and winding up petitions.
Winding Up & Insolvency FAQs
Yes, but it is imperative that you act promptly – you have in the first instance only 18 days as of right to apply to the Court for a set aside once you have received a Statutory Demand. Often the use of Statutory Demands is inappropriate and in some cases they can be set aside by the Court.
The process and purpose of winding up can be summarised as a process “to make equable and rateable distribution of all assets of a company … amongst all creditors of the company without favour or preference” (Ince Hall Rolling Mills Company Ltd v Douglas Forge Company).
- The debt alleged in the demand to be owing is genuinely disputed on substantial grounds by the company.
- The company has a genuine right of set-off against the creditor which exceeds the amount claimed in the demand.
- In certain other limited circumstances (for example such as jurisdiction; company likely to become insolvent; technical or procedural error or delay).
Yes. The first port of call would be to write to the
petitioning creditor (in most cases HMRC) asking for an adjournment- the
request would be more persuasive coming from a solicitor (we have liaised with
HMRC many times).
If the petitioning creditor refuses then you need to ask the
Court at the hearing for an adjournment. We have the necessary experience and
legal knowledge of the circumstances in which the Court exercises discretion
and can help to get your business an often much needed adjournment.
A malicious winding-up petition is one that has been presented against a company for an improper or wrongful motive. A company that suffers a malicious petition can bring a Court claim for malicious prosecution against the petitioner.
We are lawyers that specialise in recovering unpaid debts from individuals or companies so we know the best way to get your unpaid debts paid up quickly. This may involve Insolvency or Litigation proceedings.
To date, we have a 100% success rate and all of the petitions we have issued have been resolved in our client’s favour. This has also meant that the petitioned company or individual has paid our fees. Luckily for our clients this means instructing us to pursue their bad debts has ultimately recovered the sums owed plus interest with a refund of their legal costs.
Validation Orders are orders authorising the disposition of
property made after the presentation of a winding-up or bankruptcy petition
which would otherwise be void in the event of a winding-up or bankruptcy order
A validation order will allow a company to continue to trade
or perhaps dispose of a specific asset such as a property on the basis it has
been determined these transactions are to the benefit of all creditors.
If a winding up order is made by the court,
this will ordinarily signal the beginning of the end for the company. The
following consequences occur automatically on the making of
a winding up order against a company:
- The Official Receiver becomes the liquidator of the company (section 136, 1986 Act).
- The powers of the company’s directors cease (Measures Brothers Ltd v Measures  2 Ch 248).
- The liquidator takes control of the company’s assets (section 144(1), 1986 Act).
- Any disposition of the company’s property by anyone other than the liquidator is void (section 127(1), 1986 Act).
- All company papers must state that the company is in liquidation (section 188(1), 1986 Act).
- The winding up order operates as notice terminating the employment contracts of all the company’s employees, who are thereby automatically dismissed (Re Oriental Bank Corporation, MacDowall’s Case (1886) 23 Ch D 366).
- There is a stay on the commencement or continuation of proceedings against the company except with the permission of the court (section 130(2), 1986 Act).
“This firm have an extremely deep understanding of the law surrounding their specialist areas. We were on the back foot and fighting to keep a company alive, I was truly staggered by what they achieved in the few days they had, they exceeded all expectations and achieved our goal for us… I can highly recommend this firm.”
“LEXLAW successfully handled our debt recovery case. I would not hesitate in recommending them to anyone who is having problems recovering debt.”
“LEXLAW managed to successfully defend our company against a large international client. The case was settled over and above what we expected in a very short time frame. We were kept informed at every stage of the process which ran very smoothly. I would have no hesitation in recommending LEXLAW to anyone.”
“Would recommend! Successfully defended an unlawful statutory demand on my behalf and all done within 10 days. Great job!”
“LEXLAW helped my company through a very difficult time and supported us with all the legalities that were necessary to help my company to survive. This is a legal company who listens to their client and answers in appropriate terms which are not presented in legal jargon but in terms the client understands.”
“Extremely helpful and professional. They explained the process and executed a fantastic result for us. Highly recommended.”
“LEXLAW were appointed 1 week before the date of a HMRC winding up petition and successfully got the petition dismissed from the Company courts. LEXLAW negotiated a settlement with the main creditors within a couple of days of appointment and successfully represented the company at court to win the case.. I would definitely recommend LEXLAW!”
“LEXLAW is an excellent firm of solicitors. I have used them on several occasions and I am very impressed with their knowledge of the court system and case law. I simply would not go anywhere else if ever I needed representation for any of my companies.”
Winding Up Petition and Insolvency Solicitors & Barristers provide professional and specialist legal advice to guide you to the best legal outcome. Our team of London lawyers
are based in Middle Temple adjacent to the Royal Courts of Justice. For your case assessment and for more information about our legal services get in touch using our online form
, ☎ 02071830529
or email us on email@example.com