4 Stone Buildings

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, considers statutory demands in the context of corporate debtors. It provides guidance on the purpose of a statutory demand including when it is necessary, the contents , of a statutory demand and the requirements for service on the corporate debtor. It also sets out what the consequences are to a corporate debtor if it fails to comply with a statutory demand served on it, principally that it will allow the creditor to present a winding-up petition against the corporate debtor.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, sets out various circumstances when a company may be wound up by the court (ie compulsory liquidation), including resolution by the company itself, where the company has not commenced trading or suspends its business, on just and equitable grounds, or when a creditor asserts that the company is insolvent, usually because it is unable to pay its debts.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, sets out the circumstances surrounding a creditors’ voluntary liquidation, when an insolvent company may be wound up by its own directors. The company must be insolvent in order for this process to happen, otherwise the company may be wound up by way of a solvent members’ voluntary liquidation.

This Practice Note, produced in partnership with Eleanor Holland and Karl Anderson of 4 Stone Buildings, sets out the consequences and effect of the making of a winding-up order by the court on a creditor’s winding-up petition, also known as a compulsory liquidation or winding up, including the steps that the official receiver is required to take, what happens to the directors’ powers, and who the liquidator will be.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, discusses the procedure to place a company into voluntary liquidation (both members’ voluntary liquidation and creditors’ voluntary liquidation), the appointment of a liquidator and the manner in which any subsequent vacancy in the office of liquidator is dealt with.

This Practice Note, produced in partnership with Karl Anderson of 4 Stone Buildings, discusses the effects of a creditors’ voluntary liquidation (CVL; also known as creditors’ winding-up) on the company, its officers, members, employees and legal proceedings.

This Practice Note, produced in partnership with Karl Anderson and Elizabeth Walsh of 4 Stone Buildings, covers the situation when an application to court is to be made pursuant to section 127 of the Insolvency Act 1986 for a validation order in circumstances where any disposition of the company’s property after presentation against it of a winding-up petition would otherwise be void. It deals with requests to allow payments to be made by the company in the ordinary course of its business, as well as an order permitting the sale of a specific property. This can apply to both prospective—as well as retrospective—dispositions of the company’s property. The validation order is usually for a specific period and is also usually limited to a specific purpose, which will be set out in the validation order granted. This Practice Note details when to make an application, how to make that application, in what circumstances the court will typically make an order and urgent applications.