Eyebrows raised as ‘phoenix’ print firm leaves suppliers with £120,355 in unpaid invoices (plus list of recent liquidations)

Eyebrows raised as ‘phoenix’ print firm leaves suppliers with £120,355 in unpaid invoices (plus list of recent liquidations)

Once again suppliers to a defunct printing company have been left high and dry as they scratch their heads over how a new firm can emerge from the ashes of the old.

Suppliers to Datum Colour Print (Hatfield) have been left with £120,355 in unpaid invoices after the company went into voluntary liquidation.

Print Week’s Jo Francis reported that the outfit then ‘restructured’ into Datum Creative Media Ltd, but trading under the name of Datum, after a court gave them permission to use the name.

She reported: “Datum Colour Print (Hatfield) went into creditors’ voluntary liquidation in May, with Mark Newton and Anthony Hyams of Insolve Plus appointed as liquidators. The firm had a total estimated deficiency of just under £310,000, with the taxpayer the biggest creditor as the business owed HMRC a total of £93,603 (£81,603 of which was as second preferential creditor), and had also taken out a £125,000 CBILS loan.”

Insiders have said that by the so-called ‘restructuring’ the company was in effect a phoenix as they had dumped the debts including tens of thousands of pounds owed to the Government and the tax payer. A source known to ICSM said: “Suppliers are so often the last in the queue for payment in these situations. Eyebrows were raised amongst those who traded with the original company that all was not well. Once again it’s the suppliers who have paid the price.”

Ian Carrotte said: “There are a large number of companies that who have furloughed staff and are hanging on for dear life. Furlough ends next month and many of those companies will go bust. I urge anyone who is trading with firms on life support not to allow credit as when they go bust you won’t get paid.”

The full story on Print Week is here: https://www.printweek.com/News/article/datum-restructures

Below is a list of firms who have recently had financial issues from comapnies House:

CONSTRUCTION, PROPERTY AND ALLIED INDUSTRIES

Administrators Appointed

Adeo Construction Services Limited    05371590

Advanced Glass Facades Limited    07835075

Cleveland Bridge UK Limited    03749601

Complete Scaffolding (London) Limited    10290337

MS Construction Group Limited    12362907

UKL Projects Limited    05556420

WRW Construction Limited    02956215

 

Compulsory Liquidators Appointed S 136

GILB Construction Limited    07123381

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

Capella Construction Limited    08075750

Company 11728235 Limited    11728235

DWF Developments Limited    09027846

Forge Building Surveying Limited    09629746

Henry W. Pollard & Sons Limited    01436119

John Howard Builders Limited    12230152

L&H Fabrications Limited Liability Partnership    OC334149

M S Construction Building and Joinery Limited    08771556

Precision Joinery Construction Limited    12294266

RAK Maintenance (Stroud) Limited    11470259

Richards (Midlands) Limited    05680311

Supreme Building Developments Limited    11185470

TUD Construction Limited    10906495

VJ Building Limited    12423163

Whafedale Glass Limited    09748608

 

Liquidators Appointed

1st Scaffolding (UK) Limited    07634809

A Keen Construction Limited    08732254

Bakers Orchard Developments Limited    11021800

Basham Air Conditioning Services Limited    06598576

Bespoke Building & Paving Limited    10555994

BSD Fabrication Limited    10997998

BWK Build Limited    08353214

Capella Construction Limited    08075750

Coli Construction Limited    11182782

Concept Joinery Interiors Limited    09049169

Construction Joinery Limited    11276991

Cover All Construction Limited    11024546

Cragg Builders Limited    04696510

D&O Construction Limited    10579887

EKE Construction Limited    10879497

GFL Construction Limited    08864377

Heritage Masonry and Landscapes Limited    10484773

Longford Construction Limited    09620573

Margetts Construction Limited    08247832

K G Contractors (Eastern) Limited    06191417

Qubewest Limited    11153091

R Luke Rigging Services Limited    09032357

Sure Plan Homes Limited    02433447

Synergy Southwest Limited    11174894

Target Construction & Building (UK) Limited    10818276

Tricon UK Developments Limited    09910213

TXR Building & Maintenance Limited    08843104

Unique Timber Buildings Limited    11686866

Walton Sand Suppliers Limited    06537259

Wingfield Construction (South Yorkshire) Limited    09545969

 

Members Voluntary Liquidations

Braybeech Homes Limited    07657315

Cahill Building Services Limited    10181534

Candler Construction Services Limited    09657038

D.J. Thomas Developments Limited    02244798

Engage North Lincolnshire Limited    06812060

HLD (Liverpool) Limited    08732873

Les Forshaw (Northern) Limited    05800610

Liberty Homes Limited    01638719

Reco Development Limited    05208218

Signature Homes (Southern) Limited    09366118

The Building Renaissance Company Limited    03624100

Three Shires Developments Limited    05719779

 

Petitions to Wind Up

Holmes Construction (Cumbria) Limited    10191432

Orchard Brickwork Limited    08562134

Viking Improvements Projects Limited    11644409

 

Winding up orders

Purple Development Homes Limited    11621690

 

FOOD AND DRINK MAKERS

Compulsory Liquidators Appointed S 136   

Manchester Food Traders Limited    05559270

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

3 Piers Brewery Limited    10697147

Chaudhry Foods Limited    09157570

Choose Chilli Limited    09903418

Exprizza & Desi Grill Limited   10971736

Flour Power Wholesale Bakery Limited    09662084

Healthy & Tasty Limited    10456235

Hunters Fisheries Limited    11076852

MUB Foods Limited    12369748

The Patisserie (West Yorkshire) Limited    05141309

The Mobile Pizzeria Limited    08096227

The Spice Village (St Neots) Limited    10266288

Wingtip Brewing Company Limited    09427769

 

Liquidators Appointed

Big Chill Foods Limited    05590386

Clapham Wine Company Limited    08074846

Core Food Limited    10683041

Diwan Sandwich Bar Limited    06081432

Downtown Food And Drink Limited    11496874

Garfish (Export) Limited    03931419

Gordano Wines Limited    04198688

Red Curry Limited    11796614

The Tasted of China (Yorkshire) Limited    09947852

Wardour Foods Limited    05575730

 

Members Voluntary Liquidations

Little Hall Farm Mushrooms Limited    05156428

Selby Salads Limited    04204258

 

Petitions to Wind Up   

G Lawrence Wholesale Meat Company Limited    01084692

 

Winding up orders

The Meat Company (Sussex) Limited    11974869

 

HOSPITALITY, TRAVEL, EVENTS AND ALLIED INDUSTRIES

 

Administrators Appointed

Greenbrow Social Club Limited    IP19117R

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

A A Empire Limited    11977576

Bar Opus Limited    08460427

Benley City Stays Limited    10956435

Boutique Restaurant Group Limited    10874825

Caygill Limited    12436226

Curry Junction Limited    11397265

Dine at Howsham Hall Limited    10846023

Dine at Rise Hall Hospitality Limited    11774398

Dine at the Mansion Limited    06703065

Dine Catering Limited    03532234

Dine Delivered Limited    07120191

Dine Management Consultancy LLP    OC360831

Dine Management Limited    05774863

Gordon Club Limited    10085990

Gorgeous Gourmets Limited    05462361

Hardy’s Bar Limited    11240893

House Down Events & Artist Management Limited    08047152

Javed Restaurants Doncaster Limited    10860881

Opus Restaurant Limited    05244581

Orsett Hall Banqueting & Conference Centre Limited    06578610

Red Curry Limited    11796614

Saman Restaurants Limited    10480348

Simpson Fried Chicken Limited    11051955

South View Hotel Limited    11786524

Travel Etc Limited    03756772

 

Liquidators Appointed

A & A Restaurants (LS11) Limited    11973502

Alvin Restaurant Limited    11773353

ATS (Travel Consultants) Limited    02284693

All Saints Restaurant Limited    08638484

A.S.C. Bars Limited    10513128

Barr One Limited    06130950

BDZ Leisure Limited    11531804

Bizz Fitness Limited    04476996

Bombay Dining Limited    11841250

BOS Entertainment Limited    04453572

Cocktails & Wine Bar Limited    10720491

Colossal Events Limited    08663067

Colt House Event Management Limited    11714658

Curry Junction Limited    11397265

Dell Events Limited    11480403

Dolphin Ambassador Restaurants Limited    09571154

Edge Events Management Limited    11829314

Feast (Chester) Limited    11310064

Fine Dine Herts Limited    11863375

Funkey Monkey Limited    10106079

Global Event Travel (UK) Limited    10551262

Go Kar Limited    07692295

Hardy’s Bar Limited    11240893

Kanoo Travel Limited    05776787

Mars Black Sheep Hotels Limited    11116730

MJS Ents Limited    11055582

Munzberger Fight Promotions Limited    07999146

Myriad Travel Limited    06116398

Ozi café Limited    12195272

Pearson’s Adventure Travel Limited    09677547

Phillips Pub Co Limited    11668942

Plum Jam Restaurants Limited    08015399

PRS Hospitality and Events Limited    11141976

Racing Management Limited    11885373

R&B Tavern’s Limited    11173567

RGM Hospitality Limited    12428461

Ricker Restaurants (Holdings) Limited    06453269

Sea View Hotel Swansea Limited    11467614

Simpkin & Roses Limited    11199018

SJM 20 Limited    11814089

SJM 21 Limited    11814093

Spirit of Rock Limited    09679064

T`ale Taverns Limited    07327987

The Derby Arms Limited    07490450

The Mark Anthony Pub Company Limited    11973458

The Italian Job (Hinkley) Limited    11082345

Tirupati Balaji Hospitality Limited    09790125

Travel Planners Southsea Limited    12212514

Zizzy Travel Limited    08510153

 

Members Voluntary Liquidations

Frankie & Benny’s (UK) Limited    04135605

Garfunkels Restaurant Limited    01275016

Monsta Touring Limited    11677648

Moons Restaurants Limited    03292142

Sunnymead Holiday Park Limited    05394599

Tourico Holidays UK Limited    07194495

 

Petitions to Wind Up

Nite Stop Limited    03018778   

 

LOGISTICS AND ALLIED INDUSTRIES

Administrators Appointed

Capital Air Ambulance Limited    02007823

Panalpina World Transport Limited    00357697

Trans 2 Logistics Limited    09621600

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

2Eddies Travel Services Limited    11671272

7777 Limited    07700267

B.B. Transport Limited    03333563

C.C.T. Logistics Limited    02878795

Cutting Edge Wheels Limited    09406223

Dutch Logistics Limited    09443819

G-Bar International UK Limited    11964494

Quarry Plant Limited    03924795

Stathams Coaches Limited    04622137

Warburton Plant and Haulage Limited    09697491

 

Liquidators Appointed

CJC Aerotech Limited    09470179

D&R Logistics Limited    09125068

Fast Despatch Logistics (Croydon) Limited    11612891   

Fast Despatch Logistics (Hemel Hempstead) Limited    11613547

Fast Despatch Logistics (Edinburgh) Limited    11622317

Fast Despatch Logistics (Enfield) Limited    11610256

Fast Despatch Logistics (Norwich) Limited    11609113

Fast Despatch Logistics (Glasgow) Limited    11622201

Fast Despatch Logistics (Northampton) Limited    11610003

Fast Despatch Logistics (Oxford) LIMITED    11610092

Fast Despatch Logistics (Peterborough) Limited    11609039

Fast Despatch Logistics (Preston) Limited    11621849

Five Star Specialists Transport Limited    12110866

J & D Transport (Midlands) Limited    06683068

KD Logistics (UK) Limited    09032021

LDL Engineering Limited    09273512

Man Airport Transfers Limited    11370061

Moovit Transport & Haulage Limited    11747986

Norris Rail Limited    11525058

N.R. Evans and Son Limited    01935889

N R Evans (Holdings) Limited    04069121

Rainham Radio Taxis Limited    00643551

VJ Transport Services Limited    11156312

 

Members Voluntary Liquidations

Aegeus Transport Limited    06424664

HMD Machine Tools Limited    05320140

International Car Operators Limited    04274745

J B Distribution (Daventry) Limited    07529271

Roadways Container Logistics Limited    00046913

Stobart Transport & Distribution Limited    05907280

Walnut Tree Self Storage Limited    08720756

 

Petitions to Wind Up   

P Young Transport Limited    04869024

 

Winding Up Orders   

DPB Transport Limited    10965610

 

Manufacturing

Administrators Appointed

Aluminium Louvre System Limited    07492331

Arcadia Engineering Co. Limited    01651710

Form Manufacturing Limited    09462616

 

Compulsory Liquidators Appointed S 136

Oso Polymers UK Limited    11167768  

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

Afro Supermarket Limited    09481349

Albert E Chapman Limited    00353168

A S Fashion (Leicester) Limited    10026384

Clifford Group Limited    10358563

Dowdeswell Engineering Company Limited    01007286

Euromaster (Engineering) Limited    08014580

Fleetwood Sheet Metal Limited    07507160

JHJ Sheet Metal Limited    09846665

 

Liquidators Appointed

5 Star Site Services Limited    11696947

Alphamet Aluminium Limited    06667874

Bicester Wood Chip Limited    09645568

Chester Woodchip Limited    10805931

CPE Services (London) Limited    08042508

David Hopkins Engineering Limited    07557263

DGT Wheels and Tyres Limited    07978138

Eclipse Headboards Limited    09457716

Fashion Prime Limited    10740463

Forever Textiles Limited    10975106

Metal Fabrication & Fencing Co Limited    03814004

South Wales Safety Netting Limited    05371721

The Barn Stoves and Fireplaces Limited    04046009

Towequipe Limited    09591888

 

Members Voluntary Liquidations

Chunky Chick Limited    11484863

James Rail Engineering Limited    08660457

Streetwise Fabrications Limited    06652243

 

Petitions to Wind Up   

AG Safebooths UK Limited    09619365

 

Winding up orders

Oakhurst Engineers North West Limited    11354777

 

PRINTING AND ALLIED INDUSTRIES

Administrators Appointed

David Atkinson Communications Limited    10697568

Element Production Studios UK Limited    12553780

KLT Communications Limited    11059534

 

Administrators Meetings Para 51

Monument Paper Bag Company Limited (The)    00481099

Real Brick Limited    09665343

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

Braystone Marketing Limited    11093956

Clinton Smith Design Limited    05859993

Contra Framing Limited    10381456

FAM Media Limited    12161783

Golden Studio Limited    08555295

Hallam Signs & Graphics Limited    09520982

Ipex Communications Limited    12109835

Lifestyle Media House Limited    09286219

Maclaren Marketing (Yorkshire) Limited    04223683

Shot Kandy Limited    07382185

SJC Promotions Limited    09496105

The Last Transport Film Limited    10982334

To Asmara Film Limited    10408635

Waltham Print Limited    09904745

 

Liquidators Appointed

Andesign UK Limited    04562904

Braystone Marketing Limited    11093956

Bretts Trophy Centre Limited    03932420

Bureau Creative London Limited    10317666

Class One Communication Limited    09714846

Clarendon Press Gloucestershire Limited    05144567

Contra Framing Limited    10381456

Design at Work Limited    02307348

E Marketing Limited    12268427

KGK Genix (London) Limited    08814536

Lifestyle Media House Limited    09286219

Naughty Step Films Limited    09366390

Premier Posting Services Limited    06742463

Prezzroom Limited    11110746

QDos Exhibitions Limited    03789960

SA Marketing Solutions Limited    08986721

Skelkites Advertising Limited    07766848

South East Communications Limited    05181383

Stadia Media Limited    09361514

The You Agency Ltd    07949945

UK Leaflet Distribution (NW) Limited    11059719

Universe Catholic Media Limited    13286109

Urbans Signs Limited    09253600

 

Members Voluntary Liquidations

Crimson Hive Design Limited    06257027

LRN Design Services Limited    08418505

M&T Design Services Limited    12361260

Smudge Media Limited    10251647

 

Petitions to Wind Up

Aequitas Packing (UK) Limited    08913537

Strata Shopfitting Solutions Limited    08201475

 

Petitions to Wind Up   

Larkhark Films Limited    08400617

 

Winding Up Orders   

One Space Media Limited    06741203

 

RETAIL, WHOLESALE AND ALLIED INDUSTRIES

Administrators Appointed

Clement Browne Limited    07184480

Marshall Realisations Limited    03312031

Prevu London Limited    09433893

 

Compulsory Liquidators Appointed s 136

Your Car Solutions Limited    10398386

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

AM Clothing (Leics) Limited    12292817

Brow Bar Xpress Limited    07122578

Charlie’s Cars (Redditch) Limited    05239992

Clapham Wine Company Limited    08074846

Clock Tower Auto Service Centre Limited    12064590

Connect 2 Sports Limited    07258332

Dumb Blondes Limited    06732704

Exquisite Cars Limited    08048558

Fone Repair Centre Limited    11839493

Frome Bearings And Belts Limited    07194584

Henderson Beauty Services Limited    07930347

LP Grooming Limited    09247974

Miami Plates Limited    12165526

Miss Cute Fashion Limited    09190134

Mosselson Family Store Ealing Limited    08519329

Product 88 Limited    11738785

Quality Potato Seeds Limited    03138509

Stelco Europa Limited    05068671

The Body Studio Limited    07004865

The Stamp Shop Limited    07884938

UK Fashion Touch Limited    10814102

Worldwide Food Sourcing Limited    07956618

 

Liquidators Appointed

A.G. Clothing (Holdings) Limited    04251011

  1. G. Fashion Limited 01826366

Alpha MG Industrial Services Limited    12443788

Arcadia Group Designs and Development Limited    01152989

Arcadia Group Retail Limited    00414249

Arcadia Retail Group Limited    04163868

Better By Degrees Limited    12082505

Burton Retail Limited    03424662

Claymont Technologies Limited    11192505

Cliffe Villa Motors (BDF) Limited    11241802

Clock Tower Auto Service Limited    12064590

Corporate Cars (South East) Limited    08182114

Direct Furniture Choice Limited    07331192

Dorothy Perkins Limited    00106273

Dorothy Perkins Retail Limited    01716523

Evans Limited    02251251

First Grade Furniture Limited    05216356

Goa Spice (Mexborough) Limited    11849430

Hall of Pine Limited    06170959

Hardy’s Gunsmiths Limited    04027714

Haven Motor Holdings Limited    05357831

Lunar Caravans Limited    00729912

M&E Sales Limited    10898360

Mosselson Family Store Ealing Limited    08519329

MXPRO Store Limited    12669526

Nine lives cat Company Limited    11612939

North Store UK Limited    11235632

Online Deals 4 U Limited    10113321

PC & Laptop Hub Limited    08705011

Portland Eye Care Limited    01738009

Priceland Limited    08984731

Room 104 Hairdressing Limited    10053263

Secure Funeral Solutions Limited    09564208

Surrey Hills Car Supplement Limited    08392448

Titan Auto Parts Limited    09378901

Top Shop/Top Man (Australia) Limited    10842782

Tyre City (UK) Limited    09211681

Vox (GB) Limited    08275583

Yurily Cosmetics Limited    09932551

 

Members Voluntary Liquidations

A1 Hire and Sales Limited    01978532

Aromatic Ingredients Limited    04291498

Cary Trading Limited    11223836

Me Flavours Limited    06375103

West End Cold Stores Limited    02939740

 

Petitions to Wind Up

Cherhil Limited    10836497

HW Retail Limited    08269584

 

Winding up orders

Golf Depot Limited    02995248

Cherhill Limited

UK Textile Group Limited

 

VARIOUS INDUSTRIES

Administrators Appointed

Planet-U Energy Limited    11709995

Sumatra Copper & Gold PLC    05777015

 

Administrators Meetings Para 51

Essex County Laundry, Limited    00140030

 

Compulsory Liquidators Appointed s 136

Lordrite Wooden Floors Limited    06599600

 

Creditors’ Voluntary Liquidation Deemed in Consent Meetings

1ST Call Locksmiths Limited    07021894

Auto Command Limited    11939102

Camper Direct UK Limited    09507906

Blagreaves Care Home Limited    06478523

Brickcroft Social Club 2018 Limited    11604024

G Met Aerotech Limited    09952291

L Heeley Improvements Limited    08627342

Polski Driver Solutions Limited    11766637

Roger Hunt Bookmaker Limited    04754254

The National Beauty College Limited    11578821

 

Liquidators Appointed

Airways Aviation Academy Limited    04025680

Asims Automotive Repairs Limited    11356600

Chauffeur Cars (UK) Limited    06344843

Cole Offshore Limited    06590247

CR Rail Limited    11612227

Dove Nursing Care Limited    11238509

EBS Asbestos Removals Limited    11800706

Essential Utility Solutions Limited    12152378

Evergreen Education Limited    11363383

G I D Aviation Limited    10193573

It’s All About Tennis Limited    08062896

Keating Sports Horses Limited    11773475

Poppy Fields care Limited    08995771

 

Members Voluntary Liquidations

BE 2020 Limited    09135084

Westminster Local Education Partnership Limited    06458328

 

Petitions to Wind Up   

Addington Equestrian 2019 Limited    11294806

Hillcrest Odontology Clinic Limited    08692026

 

Winding up orders

Kams of London Limited    08177915

Rating and Valuation Company Limited    11597930

Sunbeds Services Limited    11800386

The Actors Temple Limited    04899831

ZRT (Bolton) Limited    09320788

 

Types of Insolvency

Administration

Administration applies to limited companies and partnerships and is intended to get the company out of trouble and trading again if possible. Administrators can be appointed to a company that is unable, or is likely to become unable, to pay its debts. They can be appointed by the courts (on application from a creditor, directors or partners), the holder of a qualifying floating charge over the assets of the business, or the company or its directors. An administrator's primary goal is to rescue the company as a going concern. If this isn't possible, the administrator will try to get a better result for the creditors than would be possible if the company was wound up. If neither of these is possible, the administrator will sell the company's property to make at least a partial payment to one or more secured or preferential creditors, such as employees or the bank.

Administrators Meetings Para 51

This statement by the administrator of his proposals must be accompanied by an invitation to an initial creditors' meeting (Sch B1, para 51(1)).

Bankruptcy

This can only apply to individuals (including sole traders and individual members of a partnership). Bankruptcy petitions may be presented to the court by the individual, by creditors who are owed £750 or more, or by the supervisor of an individual voluntary arrangement. A bankruptcy order is made by the court.

Company Voluntary Arrangement (CVA)

A company comes to an arrangement with its creditors to pay the debts in full or in part over time. A CVA begins with the company (or its adviser) drafting a formal proposal at a Creditors' Meeting to pay part or all of the debts. If the proposal is accepted by the creditors, the arrangement will become legally binding and the directors will retain control of the company.

Compulsory Liquidation

This is the winding up of a company or a partnership by a court order (a winding up order). A petition is normally presented to the court by a creditor stating that he or she is owed a sum of money by the company and that the company cannot pay.

The Official Receiver becomes liquidator when the order is made but an Insolvency Practitioner will be appointed to take over if the company has significant assets. The liquidator's role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.

Compulsory Liquidators Appointed S 136

When a winding-up order has been made, the Official Receiver is initially appointed as liquidator (section 136, IA 1986). The company's creditors and contributories may appoint another individual, who must be a registered insolvency practitioner, to act as liquidator (section 139, IA 1986). More than one liquidator can be appointed to act jointly.

Creditors' Voluntary Liquidation

Here the shareholders pass a resolution to wind the company up without the need for a court order. A Creditors' Meeting is held to nominate the appointment of a liquidator and consider a statement of affairs. Creditors can appoint a committee to work with the liquidator, whose role is to realise the company's assets, pay all the fees and charges arising from the liquidation, and pay the creditors as far as funds allow in a strict order of priority.

Creditors' Voluntary Liquidation Deemed in Consent Meeting

Creditors are now 'deemed to have consented' to a decision or resolution if 10% of creditors (by value) have not objected to it. In other words, if objections are not received by the specified decision date, creditors are 'deemed to have consented' to the decision or resolution.

Individual Voluntary Arrangement (IVA)

An individual comes to an arrangement with creditors to pay his/her debts in full or in part over time as an alternative to bankruptcy. The arrangement is set up by a licensed Insolvency Practitioner who will put it to a meeting of creditors. If the proposal is accepted at the meeting, the agreement reached with the creditors will be legally binding. An Interim Order is sometimes issued by a court and will immediately protect the debtor from any legal action by creditors.

Petitions to Wind Up

A winding up petition is a legal notice put forward to the court by a creditor. The application, in effect, asks the court to liquidate the company as they believe the company is insolvent. Proceeds of the liquidation can be used to pay back creditors.

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