Winding-up petition response checklist

A winding-up petition runs on a fixed clock, and the checklist below follows it. Under rule 7.10 of the Insolvency (England and Wales) Rules 2016, a creditor's petition cannot be advertised in The Gazette until at least 7 business days after it is served on the company, and the advert must appear at least 7 business days before the hearing. The window between service and advert is where you have the most options: pay in full, dispute a genuinely disputed debt, negotiate, or enter a formal insolvency route on advice. Once the advert appears, the bank will normally freeze the company's accounts and other creditors can join the petition. Throughout, remember s.127 of the Insolvency Act 1986: payments out of company property after the petition can be void unless the court validates them. Get advice from a Licensed Insolvency Practitioner the day you are served. This is information, not advice. Insolvency (England and Wales) Rules 2016, r.7.10

Download this checklist (.md, free, no email needed). See your dates on the petition timeline tool.

Stage 1: the day you are served

• Note the date of service, the hearing date and the petitioning creditor.
• Get professional advice the same day; the pre-advert window is short.
• Do not pay random creditors or move assets: after presentation, dispositions of company property are void if a winding-up order follows, unless validated by the court (Insolvency Act 1986, s.127).
• If essential payments (wages, rent) must continue, ask your advisers about a validation order. Do not just keep paying and hope. See paying wages after a petition.

Stage 2: before the advert (roughly the first 7 business days)

• Pay the debt in full plus costs, if affordable, and get the petition withdrawn or dismissed.
• Dispute the debt if there is a genuine and substantial dispute; the court can restrain advertisement of a disputed petition.
• Negotiate: some petitioners will adjourn or withdraw on terms.
• Consider a formal route on advice: CVA, administration or a CVL. Entering these with a petition on foot needs professional handling.

Stage 3: after the advert

• Expect the bank account to be frozen once the advert appears in The Gazette.
• Other creditors can now support or take over the petition; paying only the petitioner may not end the matter.
• Options narrow but do not vanish before the hearing. Keep taking advice.

Stage 4: the hearing

• The court can dismiss the petition, adjourn it, or make a winding-up order.
• A winding-up order means compulsory liquidation: the Official Receiver takes control and the directors' powers cease.

Throughout

• Minute every board decision: board minutes template.
• Do not incur new credit you doubt the company can repay; check your exposure with the wrongful trading checker.

Sources, accessed 27 July 2026: Insolvency (England and Wales) Rules 2016, r.7.10 and Insolvency Act 1986, s.127. General information, not legal or insolvency advice. If a petition has been served on your company, speak to a Licensed Insolvency Practitioner today. Full guide: winding-up petitions.