Winding up petitions and bankruptcy petitions
If you are considering whether or not to issue a winding up petition or a bankruptcy petition then our restructuring and insolvency lawyers have all the experience necessary to make sure that you have the accurate and necessary legal advice required.
Our experience means that we can offer you tactically and commercially astute advice to ensure that you get the most out of the process.
Our team will provide you with the services that you require from beginning to end, starting with the first advice in respect of issuing a petition through to either receipt of payment from the debtor or, if not, then attendance at the court hearing to ensure the desired outcome is achieved.
Our team follows an extremely well tried and tested route to ensure that you achieve the outcome that you desire:
- consider the papers to ensure that the winding up or bankruptcy petition is the most appropriate route forward
- if it is necessary, prepare (definitely in the case of a bankruptcy petition but often used ahead of a winding up petition) a statutory demand to be served on the individual or the company
- the use of a statutory demand, if it remains unchallenged or unsatisfied, demonstrates that the debt is owed and allows a smooth progression to the next stage
- draft either the bankruptcy or winding up petition and ensure that it is served on the debtor at the time and place required under the rules
- ensure that the process is completed in accordance with the rules and arrange for a barrister to attend the final hearings if necessary.
It is possible, at any stage of the process, for the debtor – in either a winding up or bankruptcy situation – to offer to settle the debt. If this were to happen, our team members have the necessary experience to provide you with advice and to assist in the negotiation to ensure that a payment that is satisfactory to you, is received and the necessary paperwork to record the settlement is produced.