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. << back to top | 
