Sunrise Radio Winding Up Petition: Digital Radio Group (London) Ltd are Substituted as Petitioning Creditor

As reported last month, HM Revenue & Customs (“HMRC”) winding-up petition against Sunrise Radio Limited was adjourned until Monday 14 October 2013 and was heard today in the Companies Court before Registrar Jones.

HMRC Sunrise Radio Logo Winding Up Petition

Companies Court: Winding Up Petition Hearing

The  hearing took place today at the High Court, Rolls Building (Companies Court) before Registrar Jones.

At the hearing it was confirmed by counsel acting for HMRC that Sunrise Radio Limited have paid the HMRC debt in full, but the petition costs remain outstanding and that there are five supporting creditors.

Supporting Creditors and Substituted Petitioners

Supporting creditors are able to take carriage over winding up petitions as such petitions are a collective remedy for all creditors owed monies.

Digital Radio Group (London) Limited, operators of a DAB multiplex for London, appeared to be the largest supporting creditor in terms of monies owed and have been substituted as the petitioning creditor. This means the winding up petition is still active and that Digital Radio Group have taken over the petition as petitioning creditors.

HMRC are now supporting creditors for their costs of and occasioned by the petition and perhaps other money owed, if any, which was not stated in the original petition or has accrued since then.

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