Winding-Up Petition in Glasgow

At Fast Insolvency, we offer urgent support in Glasgow for companies facing or at risk of winding-up petitions.

A winding-up petition is one of the most serious actions a creditor can take, often resulting in compulsory liquidation if not dealt with quickly in Glasgow.

Our licensed insolvency practitioners act fast to protect your company, explore your options, and offer clear, practical solutions in Glasgow.

Contact us immediately for free, confidential advice if you’ve received a petition or need to protect your company from being wound up in Glasgow.

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What Is a Winding-Up Petition in Glasgow?

A winding-up petition is a legal request made by a creditor to the High Court to force a company into compulsory liquidation in Glasgow due to unpaid debts.

If granted, it can result in the company being closed and its assets sold to repay creditors in Glasgow.

When Can a Creditor File a Winding-Up Petition in Glasgow?

A creditor can file a petition if your company owes them £750 or more in Glasgow and has failed to pay, ignore, or dispute the debt.

Usually, this follows the issue of a statutory demand in Glasgow or court judgment.

What Happens If I Ignore a Winding-Up Petition in Glasgow?

Failing to respond to a petition can result in the court granting a winding-up order, which initiates the compulsory liquidation process in Glasgow.

Your company’s bank account may be frozen in Glasgow, staff made redundant, and all control passed to the Official Receiver or an appointed liquidator.

Can I Stop a Winding-Up Petition in Glasgow?

You can stop a petition by paying the debt in full, disputing it with evidence, or negotiating a Company Voluntary Arrangement (CVA) in Glasgow.

Another option is placing the company into voluntary liquidation or administration before the court hearing in Glasgow.

How Long Do I Have to Respond to a Petition in Glasgow?

Once a petition is served, you typically have 7 days in Glasgow to respond before it is advertised in the Gazette.

After publication, banks are notified and may freeze accounts, so it’s crucial to act fast in Glasgow.

What Is the Role of the Court in Glasgow?

The court hears the petition to decide whether to issue a winding-up order in Glasgow.

If no defence or repayment is made in Glasgow, the court is likely to grant the order and appoint an Official Receiver to liquidate the company.

Will Creditors Be Paid in a Winding-Up in Glasgow?

After assets are sold, funds are used to pay secured creditors, followed by preferential creditors (such as employees), and finally unsecured creditors in Glasgow.

In many cases, there are limited funds available, especially once costs are deducted in Glasgow.

What Are the Consequences of a Winding-Up Order in Glasgow?

Consequences include immediate loss of control in Glasgow for directors, business closure, employee redundancies, asset seizure, and a formal investigation into director conduct by the Official Receiver.

Will Directors Be Personally Liable in Glasgow?

If wrongful trading, fraud, or misconduct is found, directors can face disqualification, fines, or personal liability in Glasgow for company debts.

Can I Still Enter Voluntary Liquidation After Receiving a Petition in Glasgow?

You must act before the court hearing in Glasgoworder to still enter voluntary liquidation.

Entering a Creditors’ Voluntary Liquidation (CVL) gives you more control over the process and lets you appoint your own insolvency practitioner.

How Much Does It Cost to Defend a Petition in Glasgow?

Costs in Glasgow vary depending on whether you’re paying the debt, entering a CVA, or defending the petition in court.

At Fast Insolvency, we provide fixed-fee support in Glasgow and urgent advice to help minimise legal risk and business disruption.

Can I Trade After a Petition Is Issued in Glasgow?

Trading after receiving a petition is risky in Glasgow.

You must avoid incurring new liabilities in Glasgow and ensure all actions are in creditors' best interests.

Improper trading could result in personal liability or future disqualification.

Why Is It Published in the Gazette in Glasgow?

A winding-up petition in Glasgow is published in the London Gazette to alert other creditors and stakeholders.

Once published in Glasgow, your bank is likely to freeze accounts to protect funds for the benefit of creditors.

Is a Winding-Up Petition Public in Glasgow?

Once filed and advertised, it becomes a matter of public record in Glasgow.

This can damage the company’s reputation in Glasgow and affect relationships with suppliers and clients.

Get Urgent Winding-Up Petition Advice Today in Glasgow

If you’ve received a petition, time is critical in Glasgow.

We provide urgent, expert advice in Glasgow to help you manage or defend winding-up petitions quickly and effectively.

Contact Fast Insolvency now in Glasgow for free, same-day advice and stop the process before it’s too late.

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