Wind up a company that owes you money

3. The court hearing

If the court accepts your petition, they’ll arrange a date for a hearing.

Announce the hearing

When you’re given a date for the hearing, you must formally announce when and where it will take place.

  1. At least 7 working days before the hearing, place an advert in The Gazette to say the petition has been served.

  2. Send a copy of the advert and form Comp 7 to the court at least 5 working days before the hearing.

  3. Give a list of everyone who will be attending to the court by 4:30pm on the day before the hearing.

The advert must state:

  • that you’ve presented a petition to wind up the company
  • your name and address
  • your solicitor’s name and address (if you have one)
  • the date you presented the petition
  • the court where the hearing will take place
  • that anyone wanting to come to the hearing must give notice

After the hearing

If the petition is successful, the court will issue a winding-up order.

The court will put an official receiver in charge of the liquidation. They’ll start the process of turning the company’s assets into money that can be used to pay the company’s debts.

Other creditors can register to claim the money they’re owed.