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Monday, 18 April 2011

Winding Up Petitions in Scotland

A winding up petition issued by a creditor against a Scottish company is an even more dangerous step as there is no grace period after the petition and before the advertisement.  In effect the moment a petition is served it is advertised on the wall of the Court.  This may lead to the bank accounts being frozen.  This particular quirk of the Scottish system is one reason why there are fewer corporate rescues in Scotland than in England.  However, KSA group are keen to change this!

Please read our new pages on winding up petitions in Scotland to see what can be done.

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