When is a winding-up petition ‘presented’? (Re A Company)

Article summary

Restructuring & Insolvency analysis: The date on which a winding-up petition is ‘presented’ has important consequences for the petitioner, the company and any interested parties. The Court of Appeal’s answer to this ‘deceptively simple question’ highlights the complexity of the various statutory and procedural provisions which apply to the process of commencing proceedings for the winding up of a company, particularly where both electronic and physical processes are involved. The court held that a winding-up petition is presented when the petition has been delivered to the court, and the requirements of any statute, rules or practice direction which apply to presentation have been complied with. In particular, the official receiver’s (OR’s) deposit which here—as is not uncommon—was paid by cheque sent in the post and received some days after the electronic submission of the petition, must have been paid before a petition is considered to have been ‘presented’. Written by James Culverwell, barrister at Lamb Chambers.