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Repayment of HMRC winding up petition

repayment of hmrc winding up petition
  • The prospect had built up HMRC liabilities of c£80,000 and had subsequently received a winding up petition
  • Because of this their bank account was frozen and their invoice finance facility would not release any further funds until the winding up petition had been settled
  • Terms were issued on the basis of a 2nd charge over the director’s personal residence
  • Valuers and solicitors were simultaneously instructed with the valuations been carried out on a Saturday
  • Legals documents were signed and funds were put on account with the borrowers solicitor to enable them to get the petition dismissed and continue trading

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