Thursday, 4 April 2013
How can I get a winding up petition dismissed
The court, which has the power to grant the winding up order, also has the power to dismiss the petition at the hearing at which the petition is presented.
A petition can be dismissed if the judge 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.
Please read our new page on company rescue on how to dismiss a winding up petition