jodieeee Posted September 7, 2010 Share Posted September 7, 2010 was meant to be getting paid on friday to recive the news from my boss that he has put the company into liquidation, i havent recived my wages and do understand the process of liquidation!!!, ive now spoken to the insolvency pracvtioner who now says they are not going into liquiadation they are "windng up"!!! and i need to speak with the petitioner...??? whats does all this mean!!! Link to comment Share on other sites More sharing options...
Grandad.Malky Posted September 7, 2010 Share Posted September 7, 2010 I don’t know the difference between the terms you use but when my son was “locked” out when his employer went bust they were given a form to fill in and he got his money ………… eventually. Link to comment Share on other sites More sharing options...
kimba Posted September 7, 2010 Share Posted September 7, 2010 was meant to be getting paid on friday to recive the news from my boss that he has put the company into liquidation, i havent recived my wages and do understand the process of liquidation!!!, ive now spoken to the insolvency pracvtioner who now says they are not going into liquiadation they are "windng up"!!! and i need to speak with the petitioner...??? whats does all this mean!!! Oh dear,Who do you work for ? Link to comment Share on other sites More sharing options...
jodieeee Posted September 7, 2010 Author Share Posted September 7, 2010 well i filled out a calims form, from the inslovency practioner and hes says now its been passed on to a petitioner for wind up and to speak to him, he advised that it had to go through court and to ring him tommorow its ridiculous! Link to comment Share on other sites More sharing options...
Grandad.Malky Posted September 7, 2010 Share Posted September 7, 2010 well i filled out a calims form, from the inslovency practioner and hes says now its been passed on to a petitioner for wind up and to speak to him, he advised that it had to go through court and to ring him tommorow its ridiculous! Don’t expect anything soon it takes ages to come through. Link to comment Share on other sites More sharing options...
Fooman Posted September 7, 2010 Share Posted September 7, 2010 the petitioner will be the person or company who has made the application to wind the company up. Say your company owes the tax office a massive amount of money, if its not paid and the company doesn't have the money to pay the tax office can make an application to court to wind the company up. Unfortunately if there is little or no money in the company you might be well down the list of people who might get something out of the company. You'll be classed as a creditor ie someone who is owed money Link to comment Share on other sites More sharing options...
jodieeee Posted September 7, 2010 Author Share Posted September 7, 2010 rigght i see thanks for that information, explains alot, seems they maybe in alot of debt then, Link to comment Share on other sites More sharing options...
Grandad.Malky Posted September 7, 2010 Share Posted September 7, 2010 http://www.direct.gov.uk/en/Employment/Employees/Pay/DG_178525 Link to comment Share on other sites More sharing options...
boyfriday Posted September 7, 2010 Share Posted September 7, 2010 rigght i see thanks for that information, explains alot, seems they maybe in alot of debt then, Not necessarily, they might have experienced cash flow problems and been unable to settle the petitioner within the terms that applied and they've got fed up and issued the winding up notice. They may have assets which when realised might be enough to pay off all their creditors, hopefully if that's the case you will be one of them, but as others have said, it won't be something that will happen imminently. Link to comment Share on other sites More sharing options...
Treatment Posted September 7, 2010 Share Posted September 7, 2010 was meant to be getting paid on friday to recive the news from my boss that he has put the company into liquidation, i havent recived my wages and do understand the process of liquidation!!!, ive now spoken to the insolvency pracvtioner who now says they are not going into liquiadation they are "windng up"!!! and i need to speak with the petitioner...??? whats does all this mean!!! It is either a Members Voluntary Winding Up, or more likely a Creditors Voluntary Winding Up. The former is often when the Shareholders (owners) have had enough, the latter is where the people that the company owe money to have had enough. The winding up hearing will be held, but it sounds likely to end up in a liquidation to me. Link to comment Share on other sites More sharing options...
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