- March 1, 2023
- Posted by: Gill Hadley
- Category: Uncategorized
It typically takes 8 to 10 weeks to finish an enterprise. But Covid has altered the timing. We can with the process, regardless of which you’re on.
If the petition to wind upisn’t paid or adjourned or challenged in any way, the process of wind up a business can be as short as 8-10 weeks. A word of caution though that this is the case at present. Covid restrictions mean that the process can be more sluggish than the one before. Contact our experts to get the most current status resulting of the temporary laws in force.
There are a variety of actions that must be completed as part of the regular winding up process There are a number of steps that must be completed
- Conducting a search on the register of wind Up petitions at the court
We conduct the investigation into winding-up petitions in the courtroom to confirm that there isn’t already a petition for winding up available. This is due to the fact that there can just be one winding up petition in any given moment.
- Drafting the wind Up Petition and supporting witness statement
The wind up petition has to be prepared complete with all pertinent information , and then we will need to prepare an additional witness statement.
- issuing the wind Up petition in court
After the wind up petition and statement have been completed the petition must be granted by the appropriate court. We will always issue from the Companies court located in the High justice at the Ministry of Justice, London. We can issue on in the same day as per instruction because we are close to the court.
- Service of the wind Up petition
After the issuance of the winding-up petition to the courts we can make arrangements that it be delivered by court-appointed process server which is a requirement of the winding-up petition serving procedure
- The winding petition is advertised on The London Gazette
If the winding-up petition debt is not paid or undisputed, to wind up the company the petition for wind up must be publicized by The London Gazette. It could take as little as 7 business days from when the service began.
- Preparation to conclude court hearings.
In order to wind up a business it is necessary for certain documents to be filed and prepared prior to the hearing. They include certificates of compliance the certification of ongoing debt and an original statement of service.
- The hearing will be held in person.
If you want to wind up a business the company must be represented in your trial to get a wind up order (although currently, all hearings are conducted in virtual form because of Covid). The hearing date usually falls 8 to 10 weeks following the date the winding-up petition is approved. In rare instances, the director of the debtor’s business could attend and attempt to contest the winding-up decision being issued. This is why it is crucial to be represented by a lawyer during the hearing. contact-us