Fresh Guidance on Creditors' Winding Up Petitions

The Bankruptcy Master has issued fresh guidance on Creditors' winding up petitions in Northern Ireland.

In guidance dated 16th December, the Master stated:

"It is anticipated that the lifting of the restriction on the filing of new creditors’ winding up petitions will take place next term. Guidance is currently being prepared, and a further notice will issue in advance of that Guidance to facilitate this process. In the meantime, the continuing patience of Practitioners is greatly appreciated".

It is therefore anticipated that as of early 2023, Creditors will be able to once again petition for the winding up of Insolvent Creditors after a three-year break.

If you would like any further information or advice, please contact Darren Toombs from the Insolvency & Restructuring team.

*This information is for guidance purposes only and does not constitute, nor should be regarded, as a substitute for taking legal advice that is tailored to your circumstances.