What is Compulsory Winding Up
Compulsory liquidation is effectively the end of the road. The vast majority of companies entering compulsory liquidation do so, because one of its creditors has lost patience and has issued a winding up petition. If the petition is not opposed, it will be heard in court – usually the High Court and a winding up order will be made. The Official Receiver will then be appointed as liquidator.
Should you be unfortunate to receive a winding up petition, you must act upon it quickly if you wish to challenge it. It is vitally important, if you are to challenge any such petition that you seek either legal advice or advice from a licenced insolvency practitioner immediately.
Here at CFS we have extensive knowledge and experience of assisting companies in getting petitions set aside. If your business is based in London, contact our London based Insolvency team, for an initial free, no obligation consultation.
