4 Stone Buildings

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, considers statutory demands in the context of corporate debtors. It provides guidance on the purpose of a statutory demand including when it is necessary, the contents of a statutory demand and the requirements for service on the corporate debtor. It also sets out what the consequences are to a corporate debtor if it fails to comply with a statutory demand served on it, principally that it will allow the creditor to present a winding-up petition against the corporate debtor.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, sets out various circumstances when a company may be wound up by the court (ie compulsory liquidation), including resolution by the company itself, where the company has not commenced trading or suspends its business, on just and equitable grounds, or when a creditor asserts that the company is insolvent, usually because it is unable to pay its debts.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, provides guidance as to the practice and procedure on the presentation of a winding-up petition by a creditor of a company. It considers the checks to be undertaken and information obtained prior to presenting a winding-up petition, and the steps to be taken by following issue, including the service and advertisement of the winding-up petition. Finally, this Practice Note looks at the steps the debtor company should take if it intends to oppose the winding-up petition, and what the petitioning creditor needs to do if it wishes to withdraw the winding-up petition.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, sets out the circumstances in which a company may be wound up by way of a creditors’ voluntary liquidation. The company must be insolvent in order for this process to happen, otherwise the company may be wound up by way of a solvent members’ voluntary liquidation.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, sets out the process for dissolving a company following a creditors’ voluntary liquidation or compulsory liquidation and the consequences of dissolution.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, looks at the effect on court proceedings where the defendant company either has a winding-up order made against it, or where its members pass a resolution for its winding up, or where a winding-up petition is presented against it.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, sets out the consequences and effect of the making of a winding-up order by the court on a creditor’s winding-up petition, also known as a compulsory liquidation or winding up, including the steps that the official receiver is required to take, what happens to the directors’ powers, and who the liquidator will be.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, discusses the procedure to place a company into voluntary liquidation (both members’ voluntary liquidation and creditors’ voluntary liquidation), the appointment of a liquidator and the manner in which any subsequent vacancy in the office of liquidator is dealt with.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, discusses the effect of a creditors’ voluntary liquidation (CVL) on the company, its officers, members, employees and legal proceedings.

This Practice Note, produced in partnership with Karl Anderson and Elizabeth Walsh of 4 Stone Buildings, covers the situation when an application to court is to be made pursuant to section 127 of the Insolvency Act 1986 for a validation order in circumstances where any disposition of the company’s property after presentation against it of a winding-up petition would otherwise be void. It deals with requests to allow payments to be made by the company in the ordinary course of its business, as well as an order permitting the sale of a specific property. This can apply to both prospective—as well as retrospective—dispositions of the company’s property. The validation order is usually for a specific period and is also usually limited to a specific purpose, which will be set out in the validation order granted. This Practice Note details when to make an application, how to make that application, in what circumstances the court will typically make an order and urgent applications.

This Q&A considers whether a fixed charge receiver would ordinarily enter into an agreement under section 104 of the Water Industry Act 1991 where a development is being completed in order to allow a sale to complete.

This Checklist, produced in partnership with Karl Anderson of 4 Stone Buildings, sets out the practical steps that a liquidator must take once a company has been voluntarily wound up such as providing relevant notifications. It also discusses the establishment of a liquidation committee, the duty of a liquidator to prepare a report on the conduct of all of the company’s directors pursuant to the Company Directors Disqualification Act 1986, the restrictions on directors, the company’s assets, the liquidator’s investigations into the company’s affairs, creditor claims, the distribution of dividends and how a creditors’ voluntary liquidation comes to an end.

This Checklist, produced in partnership with Karl Anderson of 4 Stone Buildings, sets out the procedure and documents required in order to place a company into voluntary liquidation.