A Winding Up Order is the most powerful financial device know to man. A nuclear detergent as Arthur Dailey might have said (he didn't, I just made that up). Even the threat of one of these is enough to terrify gigantic companies and make strong men weep. One of the world's biggest companies owes you £1m and won't pay? No problem, just the hint of a Winding Up Order will bring them sprinting to your door with the £1m, bowing and scraping. Trust me - I know about this shit.
If you go to your lawyer and tell him you are owed £20,000 by a big company he will ring his hands and suggest that you sue them. To do this he will require £20,000 up front and in two years time (with luck) you will be in Court arguing the toss. In practice, of course, the company will have gone Tango Uniform a year previously - see Carillion for details.
Or you could send them the following email: "If you do not immediately transfer £20,000 to my account as per the attached invoice I will apply for a Winding Up Order. If you are not aware of the implications of a Winding Up Order, I strongly suggest that you consult your legal advisors as a matter of extreme urgency. Otherwise a formal notice will be published in the relevant newspapers of record and at that point your company will effectively be destroyed and in the hands of an Insolvency Practitioner"
The last time I sent one of these, the money arrived within two hours from a household name company - you live less than a mile from one of their shops - in fairness, their bread is really excellent.
So why don't lawyers like them? Well, there is always a danger that if you actually do apply for a Winding Up Order and your debt is debateable, then you could be sued for damages. But don't worry - you don't have to actually do it - the threat will be enough.
It helps if you can come across as slightly mad - practice in front of the mirror when the wife and kids have gone to bed.
Bob Cory
Modified on 17/09/2019 at 07:57:44 by ℗ Bob Cory