Wind up a limited company that owes you money
How do I wind up a company?
If you are owed money by a company that cannot or will not pay it back, you can apply to the Court for a winding-up order. As part of your petition, you will need to prove to the Court that the company cannot pay its debts.
It can be proved that a company cannot pay its debts if:
- a creditor owed over £750 serves the company with a 'statutory demand' - form 4.01 - which the company does not comply with within three weeks
- a creditor obtains judgment against the company and execution is unsatisfied (there are not enough assets or funds to clear the debt)
- the company cannot pay its debts when they are due
- the company's total debts exceed its total assets
Obtaining a judgment
A creditor obtains judgment against the company, it is lodged for enforcement with the Enforcement of Judgments Office and a certificate of unenforceability is issued under Article 19 of the Judgments Enforcement (Northern Ireland) Order 1981.
You must apply to the court if you want to issue a claim for judgment yourself.
Presenting your winding-up petition to the High Court
Winding-up petitions are presented in the Northern Ireland High Court in Belfast.
To contact the High Court, write to:
Northern Ireland High Court
Royal Courts of Justice
Alternatively, you can contact the Northern Ireland Courts and Tribunals Service Enquiry Line on Tel 0300 200 7812.
Insolvency Service NI Enquiry Line028 9054 8531