If you are owed £750 or more by a company and are able to prove that the company cannot pay you, you might be able to apply to court to close or ‘wind-up’ the company. Our barristers can advise you on the process of issuing a winding-up petition and represent you at the court hearing.
If you are a company which has had a winding-up petition issued against you, our barristers can also advise you on the process of defending it and represent you at the court hearing.
Timescales may vary depending on factors such as barristers’ availability, the need for additional documents, and court waiting times. However, as a guide the courts tend to have a hearing date 8 to 10 weeks after a winding-up petition is issued.
Our barristers may charge fixed fees, which means that the barrister will charge you a set amount of money for the work. Below we provide estimates based on the range of fixed fees for barristers at Farrar’s Building. All fees are subject to VAT (where applicable).
If a barrister charges fixed fees, these may vary depending on your needs. For example, your fees may be towards the higher end of the range if the matter is more complex and/or you need a more experienced barrister. If the matter is particularly complex, your fees may also be higher than the estimates below. There will also be additional costs in the form of Court fees for issuing a winding-up petition. For more information on Court fees, follow this link: https://www.gov.uk/wind-up-a-company-that-owes-you-money
If you are issuing a winding-up petition, you should also note that even if the company is wound up, you might not get all or any of the money you are owed.
|Stage of case||Range of fixed fees (estimates)|
|Advice on issuing or defending winding-up petition||£500 to £2,500|
|Assistance with completion of forms||£500 to £2,500|
|Preparation for and attendance at court hearing||£500 to £2,500|
Our barristers sometimes charge hourly rates for advisory and drafting work. The setting of hourly rates is not necessarily straightforward and a number of factors may determine the rate that is set, for example the seniority of barrister, the type of client, and the complexity and financial value of the case. Below we provide estimates based on the range of hourly rates for barristers at Farrar’s Building. All fees are subject to VAT (where applicable).
|Written advice||Range of hourly rates (estimates)|
|Written advice on issuing or defending a winding-up petition||£175 to £350|
Our barristers will always attempt to give you a fixed fee or provide an accurate estimate of the work involved and the likely fees when they agree to undertake work for you. However, other fees may arise, either because of additional information and/or documentation provided by you, or because of the actions of the other side in your case. No further fees will be incurred without your agreement. An estimate of the additional work necessary and the fees involved will be provided to you for your agreement prior to any further work being undertaken. By way of example only, assistance with the preparation of a witness statement might incur further costs of £250.00 to £500.00, preparation of and appearing on an application hearing £500.00 to £1000.00, together with court costs. These fees are only given by way of example and may be more or less, dependant on the nature of the case and the work involved.
All information is correct as at October 2021, but the fees set out above are estimates only. For a quote, please contact the clerks by telephone on 020 7583 9241 or by email at email@example.com. We will provide you with a quote as soon as possible. We always aim to set out quotes clearly, but if you receive your quote and there is something you do not understand, please contact us.