--- title: "James Stunt’s Company Wound Up Over £173,000 Business Debt" url: https://windinguppetitionsolicitors.co.uk/james-stunts-company-wound-up-over-173000-business-debt/ date: 2025-10-24 modified: 2026-06-02 author: "Winding-up Petition Lawyer" description: "The winding-up of James Stunt’s company highlights the serious consequences of unpaid business debts and delayed legal action. Our expert insolvency solicitors help companies to protect business assets and reputation." categories: - "Bankruptcy" - "Bankruptcy Petitions" - "Business Restructure" - "company Insolvency" - "Company Rescue" - "Company Voluntary Arrangement" - "Creditor Advice" - "CVA" - "Debt Owed" - "Debt Recovery" - "HMRC" - "Insolvency" - "Insolvency Act 1986" - "Legal" - "News" - "Uncategorized" - "Voluntary Arrangments" - "Winding up order" - "Winding-Up Petitions" tags: - "Administration" - "business insolvency defence" - "business legal support" - "Companies Act 2006" - "Company Liquidation" - "Compulsory Liquidation" - "corporate debt advice" - "creditor petition" - "CVA" - "Debt Recovery" - "HMRC debt" - "Insolvency Law" - "Insolvency Rules 2016" - "insolvency solicitors" - "James Stunt" - "london insolvency solicitors" - "unpaid business rates" - "Westminster City Council" - "Winding Up Order" - "winding-up petition" image: https://windinguppetitionsolicitors.co.uk/wp-content/uploads/James-Stunts-Company-Wound-Up-1.png word_count: 836 --- # James Stunt’s Company Wound Up Over £173,000 Business Debt The compulsory winding up of [Stunt Acquisitions Limited](https://find-and-update.company-information.service.gov.uk/company/08891590), directed by socialite James Stunt, highlights the critical need for a credible and immediate legal defence when responding to a creditor’s [winding-up petition](https://windinguppetitionsolicitors.co.uk/step-by-step-guide-for-directors-responding-to-a-hmrc-winding-up-petition/). Despite claims of significant future assets, the [Insolvency and Companies Court](https://www.judiciary.uk/appointment-roles/insolvency-and-companies-court/) found the company “clearly unable to pay its debts” and ordered compulsory liquidation. ## Unpaid Business Rates Lead to Liquidation Stunt Acquisitions Limited faced a winding-up petition issued by [Westminster City Council](https://www.westminster.gov.uk/) earlier this year over an outstanding £173,000 business rates debt related to a property in Mayfair’s Leconfield House, historically notable as a former [MI5 HQ](https://www.mi5.gov.uk/) during the Cold War. The debt covered unpaid business rates dating back to 2019, which are statutory charges under the [Non-Domestic Rating (Payment Notices and Consequences of Non-Payment) Regulations 1992.](https://www.legislation.gov.uk/uksi/1992/1512/made) James Stunt, company director and former son-in-law of [Formula 1](https://www.formula1.com/) magnate Bernie Ecclestone, was reappointed earlier in the year but failed to prevent the winding-up order. ## Court Proceedings and Judicial Ruling At the London hearing, representatives for Westminster City Council revealed that an offer to pay the [debt](https://lexlaw.co.uk/debt-recovery-enforcement-judgment-against-debtor-claim-advice/) with Rolex watches as security was refused. The company’s legal team sought additional time to settle, citing “two potential sources” to settle the debt and substantial assets yet to be realised, including a possible surplus from Mr Stunt’s [personal bankruptcy](https://windinguppetitionsolicitors.co.uk/bankruptcy-advice/) estate declared in 2019. However, [Insolvency and Companies Court Judge Catherine Burton](https://www.judiciary.uk/about-the-judiciary/who-are-the-judiciary/) firmly rejected these arguments, concluding that the company had made “inadequate offers of settlement” and was “clearly unable to pay its debts.” The winding-up order was granted accordingly. Westminster City Council leader Councillor Adam Hug emphasised the importance of business rates in funding public services, stating that trying to avoid payment “has proven to be rather an expensive stunt for those involved.” ## Advice for Company Directors This case underscores crucial points for companies confronting winding-up petitions: - **Credible and Immediate Defences Matter:** Courts require strong, factual evidence and legally robust defences rather than speculative claims about future asset realisation. See HMRC guidance on [business rates](https://www.gov.uk/introduction-to-business-rates) and [Insolvency Rules 2016](https://www.legislation.gov.uk/uksi/2016/1024/contents/made). - **Adequate Settlement Offers Are Essential:** A winding-up petition is usually filed by creditors owed £750 or more. Early negotiation with creditors can prevent court action. For detailed creditor rights, refer to advice on [debt collection](https://lexlaw.co.uk/debt-recovery-enforcement-judgment-against-debtor-claim-advice/). - **Act Quickly on Petitions:** Delays or relying on unproven claims increase insolvency risk. The [Section 122 of the Insolvency Act 1986](https://www.legislation.gov.uk/ukpga/1986/45/section/122) guides insolvency tests applied by courts. - **Consider Alternatives to Liquidation:** Formal insolvency procedures such as a [Company Voluntary Arrangement (CVA) or Administration](https://windinguppetitionsolicitors.co.uk/insolvency-lawyers-london/administration-vs-cva-vs-liquidation-choosing-the-right-process/) can offer legally protected solutions to restructure and avoid liquidation ## How Expert Solicitors Can Protect Your Company From Winding-Up Petitions High-profile status provides no immunity under insolvency law. Facing a winding-up petition requires swift, specialised legal support. At [Winding Up Petition Solicitors](https://windinguppetitionsolicitors.co.uk/), our expert lawyers: **Assess Your Legal Defences:** Develop fact-based, credible defences targeting the petition debt. **Negotiate With Creditors:** Seek structured payments or agreements to avoid liquidation. **Represent You In Court:** Provide expert advocacy to meet the court’s evidential standards. Protect your company’s future by consulting with our specialist insolvency [team](https://lexlaw.co.uk/our-people/) at the earliest sign of creditor action. ## Tailored Advice in First Consultation We offer a strategic legal review of your winding-up petition risks with clear, actionable advice from your first meeting. Contact us today at +44 20 7183 0529 or visit our [contact page](https://windinguppetitionsolicitors.co.uk/contact) to discuss how we can help safeguard your business. ### FAQs What does it mean when a company is “wound up”? When a company is wound up, it is legally dissolved through the compulsory liquidation process under the Insolvency Act 1986. This usually happens when a court determines the company cannot pay its debts. Once wound up, the company’s assets are sold by a liquidator to repay creditors. What is a winding-up petition? A winding-up petition is a formal legal request made by a creditor to the court, asking that a company be liquidated because it has failed to pay debts exceeding £750. Once filed, it can severely impact a company’s bank accounts and reputation, making early legal advice critical. Who can issue a winding-up petition? Any creditor owed £750 or more can issue a petition if the debt is undisputed and remains unpaid. Common petitioners include HMRC, local councils (for unpaid business rates), banks, or suppliers. How quickly must I act after receiving a winding-up petition? You should seek legal advice immediately. A company typically has only seven days before the petition notice is advertised in The Gazette. After publication, bank accounts may be frozen, and business operations can halt almost instantly. Can a company avoid being wound up once a petition is filed? Yes, but swift action is vital. The company can still avoid liquidation by paying or settling the debt in full, or by negotiating a structured payment plan with the creditor before the hearing. If more time is needed, the company may apply for an adjournment to raise funds or finalise arrangements. Alternatively, entering a Company Voluntary Arrangement (CVA) or Administration can temporarily suspend proceedings and offer a legal route to restructure the company’s debts.