Skip to content

Winding-up petitions – back to normal!

Signing a contract

The restrictions implemented by the Corporate Insolvency and Governance Act 2020 in March 2020 on the issuing of statutory demands and winding-up petitions has now fully come to an end as from 1 April 2022.

Creditors are now free to issue winding-up petitions against companies who are unable to pay sums owed with monetary petition limit back to £750 instead of £10,000.

It is expected that there will be a substantial number of winding-up petitions going forward with creditors seeking to recover funds owed.

If you or a client have received a winding-up petition or are being threatened with the serving of a winding-up petition, then please contact a member of the Team at PBC Business Recovery & Insolvency on (01604) 212150 (Northampton office) or (01234) 834886 (Bedford office).