A demand for payment is often issued as a last resort when a client has failed to collect monies owed to them. With no court involvement required, this route offers creditors the chance to collect their debts quickly. If such a demand remains unanswered and the debt unpaid, a creditor can file a winding up petition at court, which is a powerful tool for negotiation.
A winding up petition is the most serious form of action a creditor can take against a company and can force a struggling business to enter compulsory liquidation. However, not only does a winding up petition present a risk for the struggling business, but it can also have negative consequences for our clients if such a petition is issued to one of their customers.
More often than not, our winding up petitions and statutory demands specialists are likely to be aware that a creditor has issued or will be issuing a winding up petition against your customer. With this information, our team will be able to support you through the process to ensure that your interests are protected.
We will help you recover your debts and effectively deal with the issue at hand in a proactive, yet efficient manner. By working with us to manage the situation as well as having access to all the relevant information, you will also be able to help influence key decisions which will increase the likelihood of recovering debts. Our team will help you, as the creditor, understand the options available to you and provide market-leading advice that will best help you achieve the outcome you desire.