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Thursday, 5 January 2012

How can I get an adjournment of a winding up petition?

The court, which has the power to grant the winding up order, also has the power to grant an adjournment of the hearing at which the petition is presented.

An adjournment may be granted if the court can be persuaded that the company needs more time to come up with the money or that the amount of the debt is disputed. It may be that the company can come up with all the money owed at a later date, an example of this maybe the sale of a valuable asset such as a property is currently on the market so the money is not immediately available. However, if the debt is in dispute, and this can be proven, then the court has the power to dismiss the application. 

Please read our new page on adjourning a winding up petition

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Many thanks for your comments. If you have a private business problem and you want advice give us a call on 0800 9700 539 or email me at keiths@companyrescue.co.uk. If you are a professional advisor with a troubled client, please suggest they visit www.companyrescue.co.uk or contact me as above.

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