If you have issued a winding up petition for a debt that remains unpaid and undisputed, it must be advertised in the London Gazette unless the court directs otherwise. The advert must appear not less than seven business days after the petition was served and not less than seven business days before the hearing. The reason for placing the advert is to make other creditors of the company aware of the winding up petition. They can then choose to support the petition with their own debt.
The London Gazette is the official public record in which statutory notices about company and personal insolvency are published. This includes liquidation notices, winding up petitions and bankruptcy notices. The petition must normally be advertised in the Gazette before the hearing. If it is not, the court may dismiss the petition. The court can also direct that no advert is needed, or allow the petitioner to advertise late, so the company can still be wound up.
Creating the advert
It’s extremely important you get the winding up petition advertisement right. Once the advert is placed it will be picked up by credit reference agencies, trade suppliers and banks. If the notice is not given correctly, the court may dismiss the petition. A petitioner who presents and advertises a petition maliciously and without reasonable cause can also face a claim for damages.
To place an advert in the London Gazette, you should email london@thegazette.co.uk. On receiving your request, you will be sent an application pack to set up an account. Once your account has been set up, you will receive your login details via email and be able to submit your advert online.
What details should the advert include?
Unless the court directs otherwise, the petition is advertised once in the Gazette, not less than seven business days after it is served on the company and not less than seven business days before the hearing. Business days exclude weekends, Christmas Day, Good Friday and any bank holiday anywhere in Great Britain, including Scotland. The advert should include:
- A statement that a petition has been presented to wind up the company, with the name of the company and the address of its registered office; or
- The address of its principal place of business if the company is unregistered;
- The address where the petition was served if the company is based overseas;
- The name and address of the petitioner;
- The date the petition was presented;
- The venue where the petition will be heard;
- The name and address of the petitioner’s solicitor (if there is one); and
- A statement that anyone intending to appear at the hearing, whether to support or oppose the petition, must give notice of that intention under rule 7.14 of the Insolvency (England and Wales) Rules 2016.
How much does it cost to advertise a winding up petition?
You can find the cost of advertising a winding up petition here.
Want to Talk?
If a winding up petition has been served on your company, the company is a very serious position and time is of the essence. We are happy to help you with this process, or to advise in situations where a validation order may be an appropriate option – simply call 0208 444 3400.