A winding-up petition (WUP) allows a creditor to initiate the court process for the liquidation of a company if it has not paid its debts.
A winding-up petition is a serious legal matter that can have grave consequences for a company and its directors.
Directors must be able to make an informed decision when confronted with this scenario by understanding the process and its implications.
For an overview of winding-up petitions and their potential effects on a debtor company, its stakeholders, and how they operate, we have created a guide called 'Winding-Up Petitions, a Creditors Guide'.
You can visit the guide by clicking here
Since 2015, Tracenet Legal Services have managed and effected the service of Winding-Up Petitions upon debtors across the Country. We are a multi-award-winning and Industry leading UK Process Server providing Business to Business Litigation, Insolvency & Recovery Support Services directly to UK Debt Recovery professionals and Legal Teams.
If you need assistance in arranging the service of a Winding-Up Petition, please call us on 0800 048 5684 or contact us for a fixed fee, Nationwide service.