0203 319 6335What we doWe sell timeWhen a client is faced with a winding up petition, time is all every director needs. We provide it by adjourning the hearing, and then we use it to fix what is underneath.Check your petition0203 319 6335The first moveA creditor winding you up is usually serious about itWhen a creditor takes steps to wind up your business, they are usually serious about recovering the money owed or putting it out of business. A director’s goal should be to get the petition withdrawn as quickly as possible — and there are several ways of doing that.Alternatively, if an organised winding up of the business is the best route forward, we can often obtain agreement for the petition to be withdrawn and a Voluntary Liquidation put in its place.CVA advantagesWhat a CVA actually gives youA framework that legally binds the creditors without constricting the content or nature of the deal.

Protection from court action on approval

The company keeps trading, and is saved as a going concern

Debt reduced — sometimes up to 75% written off at the end of it

Cash flow dramatically improved

Once approved, it is not advertised

Interest and charges frozen on unsecured debts

And the rest of it

No new banking required

Not court intrusive

Fast to implement, even with a petition already in place

Directors stay in control

Creditor unanimity is not required

Secured creditors are unaffected

Workable across the EU

Avoids liquidation or administration

Leases and contracts can be terminated

Redundancies can be made

Tax losses are retained

Ongoing costs normally come out of the monthly contributions

The arrangement can be varied if the company still struggles

Combining the best teamsFrom insolvent to solvent, with one instructionThe specialist skills sit in different teams — insolvency practitioners, barristers, the people who negotiate with creditors — and combining them is what moves a business from an insolvent position to a solvent one without the director having to assemble it themselves.Our barristers are in the Insolvency Courts weekly and can be instructed today. An adjournment buys the time; everything else is what we do with it.“We have worked with these consultants for over 20 years. We have found their knowledge and expertise second to none. They provide honest, straightforward advice.”Steve Wilson B.F.P. & A.C.A., Thieme and CoRead more on thisFrom our insight

Removing a winding up petition

The grounds that work, and the paperwork each one needs.

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Understanding Company Voluntary Arrangements

What a CVA is, what it binds, and how long it runs for.

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Help — my petition has been advertised

Once it is in the Gazette the clock speeds up. The order things happen in.

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Talk to us todayIf a petition has been issued against your company, the sooner we know the more there is to work with. Monday to Friday, 9am – 4pm.0203 319 6335Send a messageFastspeed LegalsInsolvency consultancyContactColroger Offices, Lender Lane Mullion, Helston TR12 7AJ0203 319 6335info@fastspeedlegals.co.ukMonday to Friday, 9am – 4pmWhat we doWinding up petitions County Court Judgments Company Voluntary Arrangements Voluntary Liquidations Court representation