Where a Limited Company owes you money, you can petition the Court for an Order that the Company that owes money (‘the Debtor Company’) is wound up.

This is quite a serious step as it effectively stops the Debtor Company from operating completely.

It is a requirement of the process that the Winding Up Petition be served upon the Company at the Registered Office or upon a Director of the Debtor Company in good time for the hearing and in such a way as to not interfere with the Creditors’ obligation to advertise the Petition.

Often, service of a Winding Up Petition is preceded by service of a Statutory Demand upon the Company. Though this is not strictly ncessary.

It is enough to present a Winding Up Petition if you have a judgment against the Debtor Company that hasn’t been paid or have demanded the debt in writing and it has not been contested.

We help Creditors by serving Debtor Companies with Winding Up Petitions.

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What form do you need to use?

You’ll need to use Form COMP1. When completing the form, you’ll need to provide evidence that the Debtor Company owes you money.

Where a Statutory Demand has already been served upon the Debtor Company and has not been complied with, the Certificate of Service of Statutory Demand will contain all of the details you need.

In cases where a Statutory Demand hasn’t been served, details of any outstanding Judgment or the request for payment will be required.

CORONAVIRUS UPDATE

The Corporate Insolvency and Governance Act prohibits the presentation of a Winding Up petition based on an unsatisfied Statutory Demand served between 1 March 2020 and 30 September 2020.

It is also not currently possible to present a winding up petition between 27 April 2020 and 30 September 2020, unless it can be shown that coronavirus has not worsened the debtor’s financial position or the debtor could not have paid its debts even if there had been no such worsening of its financial position. In practice, this will be time consuming and costly to show against the prospect of simply waiting until the moratorium on presentation of a Winding Up Petition is over.

This has effectively meant that Creditors will not be able to raise Winding Up Petitions until after 30 September 2020.

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What we do to help Creditors

We’re regularly instructed to assist Creditors in their collection activity by effecting personal service of Winding Up Petitions on Debtor Companies all over the UK.

If you want us to assist you in serving a Winding Up Petition, click on the ‘Instruct Us’ button. In most cases, we can effect service on the same day as we receive the instruction.

We are Lincs Process Servers

We serve Winding Up Petitions all over the UK for a fixed fee. We assist our creditor clients and their professional advisors with their debt collection by providing field services aimed at driving recoveries, delivering intelligence and maintaining the customer-supplier relationship.

If you, or one of your clients, would benefit from this approach, get in touch.