Winding Up Petition
If a company owes you money and has
refused or neglected to pay the debt, you may apply to wind
it up by presenting a petition to court for that purpose.
A winding-up petition is usually presented by a creditor on
the grounds that the company cannot pay its debts and this
has to be proved to the court.
This proof can either be:-
the failure on the part of the debtor
to comply with a Statutory Demand that you have served or;
an "unsatisfied" execution of
a Judgment debt, whereby either a County Court Bailiff or
High Court Enforcement Officer has been unable to seize
enough assets to discharge the debt.
The out of pocket expenses and disbursements
required to present a Winding Up petition are considerable,
and exceed those of a bankruptcy petition, and we would not
recommend taking this course of action lightly.
Please refer to the table below for guidance
| Court
Fee |
£190 |
| Petition
Deposit |
£620 |
| Our Fee* |
£225 |
| Counsel's Fees** |
£175 |
| Process Servers Fees |
£80 |
| Statutory advertising |
£36.80 |
| Swear Fee |
£7 |
| Land Registry Search Fee |
£2 |
| Total |
£1366.43 |
*Please note that our fee is calculated
on the basis that the petition is heard in the Torquay &
Newton Abbot County Court and concluded at the first hearing.
Should the matter be adjourned or other legal issues arise,
then our hourly rate of £60 shall apply.
**If the Petitioning Creditor is a Company,
then you must have a solicitor/barrister to represent you
at the hearing. We have negotiated an exclusive rate for Veritas
Legal clients for cases in the Torquay & Newton Abbot
or Exeter County Courts with Rougemont
Chambers of £175 plus VAT and can do so elsewhere
in the country through our association with reputable law
firms and barristers chambers.
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