The new month sees a partial re-instatement of the legislation permitting creditors to serve winding up petitions on companies.  However, the UK Government has adopted a softly, softly approach; this is seen from the temporary increase in the amount that must be owed from the modest £750 to £10,000 and the requirement for creditors to seek proposals for payment from a debtor business, giving them 21 days for a response, before they can proceed with winding up action.  The measures are said to protect small businesses as they seek to rebuild their stability.

Continue Reading Winding up petitions: a return to the old normal? Except for landlords