winding up petitition against my company...but there is a dispute on the amount owed?

Question

a creditor i owe money too is not listening to me . there is a dispute of around £5000.00 of monies that i dont owe i ionly owe around £4000.00 AND THEY ASKING FOR £9000.00. THEY ARE THREATNING ME WITH ISSUING A WINDING UP PETITION AGAINST MY COMPANY. CAN I BUY MY SELF TIME TO PROVE WHAT I OWE BEFORE THEY WIND UP MY COMPANY.

Answer 1

Directors’ should approach Companies house and the appropriate legal eagle to administer winding up of the company (Assuming limited liability). However, sole proprietors bear full liability and should obtain legal advise immediately.

A creditor may claim amounts owed to them based on the invoice or written contract. The consideration is payable to the extent of the goods and services agreed upon.
e.g. £4,000 as on the invoice so therefore maximum liability is £4,000.

Exceptions
- In addition to a liability of £4000, the creditor has made known to the purchaser that should the amount not be paid for, this will adversely affect their business operations. This applies to infrequently to financial institutions, rarely to retailers, traders and manufacturers.

- £5,000 is likely a penalty interest for delayed payment on the previously agreed £4000.

- £9,000 is definitely a penalty of non-compliance of payment imposed by the creditor.

- Late interest charges and penalties imposed by creditors are not for the rogue company, sole proprietor or partnership to decide. Such claims should go through a small claims court.

- It is unlawful for the creditor to make penalty claims without due process, it is for the courts and not the claimant, to decide of legal remedies and penalties.

Answer 2

Go to www.handelonthelaw.com. He can advise you further via email. Just ask the question in email form. You can also call his radio show. Its an AM show on Saturday so I can't imagine that it would be too hard to make it on the show. Granted its pacific time in the USA so make the time adjustment for the call.

If that doesn't work go to the nearest small town and get a free consultation from an attorney that does free consultations. They are usually less busy in smaller cities, and thus have time to talk. I have drivn to smaller cities several times when needing legal advice. One attorney talked to me for thirty minutes free of charge.

Answer 3

You can buy yourself time by paying them the £4000 you acknowledge you owe them, as long as you are completely sure you are in the right. Any petition is then going to fail since you won't owe them any money.

It's difficult to answer in any more detail as it's not clear why it would take you so much time to prove you don't owe the money.