Cooper Matthews, a leading provider of business debt advice and solutions for small to medium businesses requiring financial advice, warn of the dangers of Winding Up Petitions.
Cooper Matthews have extensive experience in providing company debt rescue services to small and medium sized companies. Cooper Matthews can also provide practical advice which can help prevent business insolvency or other financial difficulties. Due to Cooper Matthews’s expertise and business solutions, many companies have recovered from financial issues and have ultimately turned their businesses around.
Winding Up Petitions allow one or more creditors of a business to engage in the process for forced closure of a limited company. Cooper Matthews recently warned of the dangers of Winding Up Petitions, as a company’s bank account will be frozen immediately following the advertisement of the Petition and cannot be accessed before a company can defend their case. Cooper Matthews, however, can obtain a Validation Order for their client to reinstate their bank account.
A spokesperson for Cooper Matthews commented: “Winding Up Petitions can ultimately have disastrous consequences for a company, as they can freeze all company assets and bank accounts. Winding Up Petitions can also result in employees being left unpaid and could leave a business in a state of disarray once the court case has ended. If a Petition is ignored, the directors will have to attend an interview with the Official Receiver. Here at Cooper Matthews we understand the dangers Winding Up Petitions could present, which is why we can provide expert advice for stopping a Petition being advertised or can help a company obtain a Validation Order which can reinstate their company bank account.”