You can apply to the court to ‘wind up’ a company if it can’t pay its debts of more than £750.
Your application to the court is known as a ‘winding-up petition’. If successful, the company will be put into liquidation.
You may not get all or any of the money you’re owed - a debt specialist (eg a solicitor) can help you work out the best way to recover a debt and send your petition.
How to petition the court
The fees are:
- £280 - court fees
- £1250 - petition deposit (to manage the ‘winding-up’)
You might be able to get the fees back if the company can afford to repay them.
Pay using cash, postal orders or a building society, bank or solicitor’s cheque made payable to Her Majesty’s Courts and Tribunals Service.
There are different rules on winding up a company in Scotland.