stealthpapes Done some reading, yeah, there’s something potentially serious in here.In Reading FC’s case, Mr Howe has reportedly obtained a County Court Judgment claiming he’s owed almost £100,000. This CCJ is a critical step — it proves the debt exists in the eyes of the law, making it much easier to justify a winding-up petition.
Once a petition is issued, the company has just seven days before it’s advertised in The Gazette. After advertisement, the company’s bank accounts are typically frozen, making it virtually impossible to trade. A court hearing follows roughly four to eight weeks later, where a judge will decide whether to wind up the company.
Sigh. Well, I presume Couhig would sooner pay up this relatively small fee than have the accounts frozen for a couple of months.
