Statutory Demands, Winding up Petitions and the use of a new Moratorium and new Restructuring Plan
As the lockdown restrictions start easing there is some interesting news around the changes to the insolvency rules specific to Statutory Demands, Winding up Petitions and the use of a new Moratorium and new Restructuring Plan to aid the rescue or restructure of a business. There are bans on issuing Statutory Demands and Winding up […]
What does “winding up” mean?
In simple terms, winding up a company means bringing it to an orderly end, or at least as orderly an end as possible. In practical terms, winding up may have different meanings depending on the exact situation. The company directors wish to wind up the company even though it is still solvent Although people might […]