Notice of Winding Up Application
What does it mean? What should you do?
When a creditor has decided to pursue this course of action they will almost always have instructed a solicitor who will be running the process.
The solicitor will:
- Serve the Winding Up Application on the Registered Office of your Company; and
- Advertise the Winding Up Application in the Government Gazette; and
- Advertise the Winding Up Application in a newspaper that is circulated in the area of which your company trades.
The Notice will have a return date at which time the Court will set a date for the hearing. It is at that hearing that the Court may order that your company be placed into Official Liquidation or Court Liquidation – they are the same thing. The Official Liquidator will then take complete control of the company and set about winding up its affairs.
What can you do? Warning!
If the previous Notices didn’t get your attention this one definitely should.
Failure to deal with this Notice will result in you losing your Company. If your company cannot pay the debt then you should look at our page Is my company insolvent? or if you are already convinced your company is insolvent then Ask IRA! what your options are.
If the above advice has not answered your questions you might want to review the following pages and downloadable Information Sheets: