The winding-up process begins with the winding-up petition. The winding-up petition is an application to set a date for a hearing in court to determine whether a company or limited liability partnership (LLP) may be wound up and put into compulsory liquidation.
Those who can petition the court to wind up a company or limited liability partnership (LLP) include:
one or more creditors who are owed more than £750 a company or LLP itself the directors or shareholders of a company or designated members of an LLP the supervisor of a voluntary arrangement the administrative receiver or administrator the Secretary of State for Business, Innovation & Skills the Financial Services Authority an Official Receiver (OR)