Creditor's petition to wind up a company: case study | Practical Law

Creditor's petition to wind up a company: case study | Practical Law

A case study of a creditor’s petition under section 124 of the Insolvency Act 1986 to wind up a company on the grounds that it is insolvent and unable to pay its debts. The case study includes practical guidance and an example of each of the documents required to petition to place a company into compulsory liquidation in accordance with the Insolvency (England and Wales) Rules 2016 (SI 2016/1024).

Creditor's petition to wind up a company: case study

Practical Law UK Practice Note Overview 5-383-0253 (Approx. 15 pages)

Creditor's petition to wind up a company: case study

by Practical Law Restructuring and Insolvency in association with Seamus Woods, Erskine Chambers
Maintained • England, Wales
A case study of a creditor’s petition under section 124 of the Insolvency Act 1986 to wind up a company on the grounds that it is insolvent and unable to pay its debts. The case study includes practical guidance and an example of each of the documents required to petition to place a company into compulsory liquidation in accordance with the Insolvency (England and Wales) Rules 2016 (SI 2016/1024).
Note: The remaining temporary measures that were introduced 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.