Podcast Location:
Download it here [file size: 34.3 MB]
Categories:
Insolvency & Restructuring
Remedies & Enforcement
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aimed to guide practitioners through the procedural steps to obtain a winding up order against a company. It approaches the procedure from the position of the petitioning creditor and the debtor company with consideration given to the important practical considerations that need to be reviewed and understood by those practitioners dealing in insolvency work as part of their practice.

Outcomes:
After completing the course you will:
  • Understand who may present a winding up petition;
  • Understand the grounds on which a company may be wound up;
  • Understand the purpose and effect of a statutory demand;
  • Understand the grounds on which a petition to wind up may be restrained;
  • Understand the key features both in form and content that a petition must have;
  • Understand the requirements when serving a petition;
  • Understand the key steps that a respondent company to a petition should take when service is effected;
  • Know what will happen leading up to and during the first hearing of the petition;
  • Know in what circumstances the company should seek a Validation Order;
  • Understand how costs are dealt with in a petition;
  • Know the appropriate steps involved in the rescission, appeal or stay an order to wind up the company.
Level:
General Interest Difficulty: 2 of 5
Classification:
Practical Guide
Procedural
Sources and References:
  • Insolvency Act 1986 ss 122, 124, 123, 127, 267;
  • Insolvency Rules 1986 rr 4.4-4.6, r.4.8, r.4.9A, r4.10, 4.11, 4.12, 4.13, 4.14, 4.15, 4.18, 4.19, 4.21B, 7.47;
  • Re Thirty Eight Building Ltd (in liquidation) (No. 2) [2000] 1 BCLC 201;
  • Papanicola v Humphreys [2005] All ER 418;
  • Practice Note on Validation Orders [2007] BCC 91;
  • Re Gray’s Inn Construction Co Ltd [1980] 1 WLR 711;
  • In Re a Company (No. 006798 of 1995);
  • Re a Company (No. 0012209 of 1991) [1992] 1 WLR 351 at 354;
  • Practice Direction on Insolvency Proceedings Para 17.6, 17.18(3);
  • Re Probe Systems Ltd (No. 3) [1991] BCC 428;
  • Re Tasbian Ltd (No.3) [1991] BCLC 792.
Tags:

This podcast produced in association with the Chancery Bar Association guides practitioners through the process by which a company with unpaid debts can be wound up.

Podcast added: 10/04/12

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