compulsory winding up
a procedure for the dissolution of a company involving a petition presented to the court, usually by a creditor. The petition must be based on one of the grounds specified in the Companies Act 1985. The most usual ground is that the company is unable to pay its debts.

Collins dictionary of law. . 2001.

Look at other dictionaries:

  • compulsory winding up — ➔ winding up * * * compulsory winding up UK US noun [S or U] LAW, FINANCE ► a decision by a court of law that a failed business must close: »It is the supervision by the court that is the main difference between a compulsory winding up and… …   Financial and business terms

  • compulsory winding-up — compulsory liquidation …   Accounting dictionary

  • compulsory winding up — /kəmˌpʌlsəri ˌwaɪndɪŋ ʌp/ noun liquidation which is ordered by a court …   Dictionary of banking and finance

  • compulsory liquidation — compulsory winding up The winding up of a company by a court. A petition must be presented both at the court and at the registered office of the company. Those by whom it may be presented include: the company, the directors, a creditor, an… …   Accounting dictionary

  • compulsory liquidation — compulsory winding up The liquidation of a company by a court. A petition must be presented both at the court and the registered office of the company. Those by whom it may be presented include: the company, the directors, a creditor, an official …   Big dictionary of business and management

  • winding-up — The process by which a company dies. Under Part IV of the Insolvency Act 1986, there are three separate procedures a members voluntary winding up where a company is solvent, a creditors voluntary winding up for insolvent companies and a… …   Law dictionary

  • winding-up petition — The process by which a company dies. Under Part IV of the Insolvency Act 1986, there are three separate procedures a members voluntary winding up where a company is solvent, a creditors voluntary winding up for insolvent companies and a… …   Law dictionary

  • winding up — see liquidation London Stock Exchange Glossary * * * winding up ˌwinding ˈup noun [singular, uncountable] COMMERCE LAW when a business or organization is closed down, especially because it cannot pay its debts: • Redeemable preference shares… …   Financial and business terms

  • winding up — / waɪndɪŋ ʌp/ noun liquidation, the act of closing a company and selling its assets ♦ a compulsory winding up order an order from a court saying that a company must be wound up …   Dictionary of banking and finance

  • winding-up petition — A document presented to a UK court seeking an order for a company to be put into compulsory liquidation …   Accounting dictionary

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