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Creditor's winding-up petition: procedure
Practical Law UK Practice Note Overview 0-378-9425 (Approx. 33 pages)
Creditor's winding-up petition: procedure
by Practical Law Restructuring and Insolvency in association with Seamus Woods, Erskine Chambers
A practical guide for any creditor seeking to have a company registered in England and Wales wound up (also known as put into compulsory liquidation) on the grounds that the company is unable to pay its debts, under section 122(1)(f) of the Insolvency Act 1986. This note sets out the relevant procedure under Chapter 3 of Part 7 of the Insolvency (England and Wales) Rules 2016 (SI 2016/1024) and provides guidance on drafting and presenting a winding up petition, gazetting notice of the petition and preparing for the petition hearing.
Note: The remaining temporary measures that were introduced in 2020 in response to the COVID-19 pandemic expired without renewal on 31 March 2022. See Legal update, Remaining temporary insolvency measures will expire on 31 March 2022.
Other restrictions on winding-up and bankruptcy petitions concerning COVID-related arrears of commercial rent continue to apply under the Commercial Rent (Coronavirus) Act 2022. See Practice note, COVID-19: Commercial Rent (Coronavirus) Act 2022: rent arbitration and the implications for enforcement.
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