How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask JGM Your Own Question

JGM
JGM, Solicitor
Category: Law
Satisfied Customers: 10652
Experience:  30 years as a practising solicitor.
31090051
Type Your Law Question Here...
JGM is online now

How much would it cost for a creditor to apply and complete

Resolved Question:

How much would it cost for a creditor to apply and complete an involuntary wind-up of a limited company?
How many estimated hours will the solicitor work and, generally, what are the solicitors goals/workload?
Is it necessary to hire a solicitor or the process can be done by laymen?
Submitted: 7 months ago.
Category: Law
Expert:  JGM replied 7 months ago.

The solicitor would take about 5 hours at £200-250 per hour. The solicitors goals are to get a winding up order. There will be court and advertising outlays of about £1200. The nominated liquidator would also have to be satisfied that his fees would be covered so the company would have to have assets or the creditor would have to underwrite the fees, often around £5000.

Customer: replied 7 months ago.
Thank you for your response,1) Once the solicitor has drafted the petition to the court, does he need to e.g. attend court or prepare other forms, as in other disputes? Or is it only the winding-up petition the needs to be filed and then the rest is done by the court/practitioner?2) The goverment website indicates the costs are 280£ court fees and 1600£ to manage the winding up.
Your 5,000£ seem to be far away from 1880£+1000 solicitors fees.
You basically suggest the 1600£ does not cover the liquidators costs?
(https://www.gov.uk/wind-up-a-company-that-owes-you-money/overview)
Expert:  JGM replied 7 months ago.

1. The solicitor prepares the papers including the petition, advertising and service documents. He only has to appear in court if the petition is opposed. 2. I can only tell you what my experience is of costs. No insolvency practitioner I know would work for the rates you say the government quote.

JGM, Solicitor
Category: Law
Satisfied Customers: 10652
Experience: 30 years as a practising solicitor.
JGM and 3 other Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice
 
 
 

Related Law Questions