Any Other Creditor

Without wanting to be too depressive, even if we satisfy the demands of HMRC then any other creditor can apply for a winding up petition in the hope of forcing us to pay them ahead of others!

Without wanting to be too depressive, even if we satisfy the demands of HMRC then any other creditor can apply for a winding up petition in the hope of forcing us to pay them ahead of others!

But they would then run the risk of everyone adding their names to the list of Creditors and, if successful, would be lucky to get 10p in the £ on their debts. It's absolutely the last resort for most companies as it is in their best interests to keep the debtor company trading. They tend to do it only if they think there is a likelihood they the debtor company itself will choose to go into Administration or insolvency.

annis abraham jnr publishers