Winding-up petition timeline tool
A winding-up petition runs on a fixed and unforgiving timeline, and knowing where you are on it tells you exactly how urgently to act. After the petition is served on the company it can be advertised in The Gazette no sooner than seven business days later, and it must be advertised at least seven business days before the court hearing. Advertisement is the moment that usually triggers the bank to freeze the company account, because section 127 of the Insolvency Act can make payments out of the company void once the petition has been presented. That means the most valuable time you have is the gap between being served and the advertisement, when you can still take advice, pay or dispute the debt, or move to a controlled procedure. This tool maps your key dates from the petition so you can see the windows and act inside them rather than after they have closed. The Gazette; Insolvency Act 1986 s127
Your key dates
Indicative timing based on the seven-business-day advertisement rules. Your exact position depends on the court and creditor. Take advice immediately.
Common questions
When does a winding-up petition get advertised?
A petition can be advertised in The Gazette no earlier than seven business days after it is served on the company, and at least seven business days before the hearing. Advertisement is the trigger for most bank account freezes.
When will my bank freeze the company account?
Usually once the petition is advertised, because payments made after the petition is presented can be void under section 127 of the Insolvency Act. Banks freeze accounts to protect themselves. A practitioner can sometimes obtain a validation order for essential payments.
How long do I have before the hearing?
The hearing date is stated on the petition. There is often a few weeks between service and the hearing, but the bank freeze can bite within days of advertisement, so treat the whole period as urgent.
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