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Thursday, 3 February 2011

Winding up petitions against London companies on the increase again.

Winding up petitions against London companies on the increase again.

The number of Winding up petitions issued by creditors against Central London companies in January was 120 compared with 60 in December, and 86 in November.

This is a sign that creditors are becoming more impatient with companies that owe them money, especially so in London. We are also seeing greater use of the winding up petition by HMRC as it loses patience with companies that have built up tax arrears. This is especially the case if the company is on a time to pay scheme and have failed to keep up with payments.

If you have received a threat of a winding up petition then you MUST ACT as service of one can limit your options. If a winding up petition is advertised by the creditor then the bank will freeze your account!

We can help by either seeking an adjournment, getting the petition struck out ( if the debt is disputed) or in the case of the bank freezing the account we can help seek a validation order.

However, the sooner you act the lower the costs of defending your company.

Call us 0800 9700539

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