insolvency procedings

Discussion in 'Growing and Managing a Business' started by jn1702, Sep 6, 2010.

  1. jn1702

    jn1702
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    If a company has a CCJ against it for say £1500 and that company pays say £800 to the creditor therefore making the debt less than £750 does that make winding up impossible? as the debt is now less than £750. Thanks:confused:
     
  2. Fergal

    Fergal
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    Welcome to Business Advice Forum jn1702 and thanks for posting your business questions.

    What country are we talking about jn1702?
     
  3. seanstevens

    seanstevens
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    Would appear to be UK.

    If you have not issued proceedings then I would say NO, as to issue a winding up petition the debt needs to be above £750-
     

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