Member Info for bobbybingo

Toffers you stated in that post earlier which you say is part of your complaint to the FRC,

"proceedings were issued as that materially affected shareholders investments and should have been notified"

your complaint is baseless as it would only materially affect us if EUA lose the case and if they dont lose the case then no reason to inform us, also they wont comment on an ongoing court case , should they lose that case they will in inform us then if that even happens !

And as if a couple of Russians who lost share certificates who are not creditors with a case that has not been won yet can piggy back on anything

Toffers on the edge of her seat over the WUP and Queeld case next week anticipating the downfall of EUA,

be good to get news that the WUP has been sorted and then next week win the queeld case,

mostly ide like this news so toffers is left seething, everything crossed for that happening tbh,

imagine not being invested, well apart from 100 shares but still paying the 36 quid just itching to see anything that could be bad news for EUA, just dying to let us all know any bad news , salivating at the prospect of total disaster for EUA,

what a nice person you are, NOT!

If the company told us they received it on Friday the 3rd in an RNS i think we can rely on that which leaves us with the earliest it can go into the gazette as Wed the 15th

Toffers the WUP was filed not served on the 25th OCT, it was served on 3rd NOV, that is the earliest date they could have served which is confirmed as the date it was served via RNS

It cant go in the Gazette until not less than 7 full business days from the date it was served which means it cant at the earliest be in the gazette until Wednesday the 15th,

i thought yesterday it was Tuesday the 14th but i counted it one day out as i counted it going in on the 7th day but its after the full 7th day which makes it Wed the 15th at the earliest.

We will find soon toffers, from the info i checked it works out as next Tuesday the 14th,

what date do you think it will go into the gazette ?

They can only serve after 7 business days from the initial petition date as well so if you take the Oct 25th date plus 7 business days from there brings us to Friday the 3rd which is the date it was served as per the RNS, this adds up if you count it up properly, then add a further 7 business days until it can go into the gazette which is Tuesday the 14th at the earliest

its all in here

https://www.franciswilksandjones.co.uk/winding-up-petition/

"If the winding up petition debt remains unpaid or undisputed, then after 7 business days has elapsed from the date of service, the petitioner can advertise the winding up petition in the London Gazette."

it was served on Friday as per RNS so they have at least until next Tuesday the 14th to resolve this before it goes into the Gazette, the service day does not count as one of the 7 days

if it goes further then the hearing will be held,

"When a winding up petition is issued, the court will always insert in the winding up petition itself what is commonly known as a “return date”. That is a date usually set 8-10 weeks in the future and at which the creditor and the debtor can attend court (either in person or online)."

all this info can be found here

https://www.franciswilksandjones.co.uk/winding-up-petition/

Https://www.franciswilksandjones.co.uk/winding-up-petition/

under the drop own arrow heading " winiding up petition defence"

The winding up petition may be an abuse of process and being used to “bully a debtor” into payment. In those circumstances, the petition can be dismissed by way of an application to the court.

the winding up petition document is defective or procedurally wrong in any way, this can lead to the winding up order being struck out.

they got company name wrong for starters and there is plenty of other defence info on there

The winding up petition may be an abuse of process and being used to “bully a debtor” into payment. In those circumstances, the petition can be dismissed by way of an application to the court.

It is possible to defend a winding up petition on a number of different grounds. For example,

If the winding up petition document is defective or procedurally wrong in any way,

( EURASIAN MINING typo for eg) ( getting the company name wrong does not make these lawyers look good tbh)

this can lead to the winding up order being struck out. it can often have procedural errors in it.

Proper adherence to the winding up procedure is vital. Failure to do so can lead to winding up petition dismissal.

The winding up petition may be an abuse of process and being used to “bully a debtor” into payment. In those circumstances, the petition can be dismissed by way of an application to the court.

Therefore, if a debt is genuinely disputed the court can strike the winding up petition out; and order very significant costs against the petitioning creditor

If this is the case, the petition should be dismissed from court and the creditor should commence proceedings in the right court namely the county court or the high court

The RNS tells us that the Bill it is in dispute so going by the info there is more to be heard about this and that info will be provided as appropriate which was also stated in the RNS,

we need to wait to find out more,

for all we know the EUA dispute may be upheld, they may also win the Queeld case

Winding up proceedings should only be commenced if the debt can be proven and there is no dispute as to whether it is due. If the debt is genuinely disputed, or the company has a genuine cross-claim or right of set-off, winding up proceedings are not appropriate."

If the debt is genuinely disputed and a winding up petition has been issued, the winding up court will very much frown upon that process and can have it struck out for abuse of process. This is because the courts generally view winding up petitions as something which should only be issued where the company is genuinely insolvent and should be wound up so that there can be a fair distribution of the remaining assets to the creditors of the company.

It is possible to defend a winding up petition on a number of different grounds. For example,

The winding up petition may be genuinely subject to a dispute.

If this is the case, the petition should be dismissed from court and the creditor should commence proceedings in the right court namely the county court or the high court

"Winding up petitions must be used carefully if they are being issued to try and get a debt paid. The Courts tend to frown on the use of winding up petitions for debt recovery purposes",

i found that paragraph on the link on one of the drop down boxes so it could indeed be the case EUA have a legitimate grievance about the size of the bill,

https://www.franciswilksandjones.co.uk/winding-up-petition/

Onthebwagon

yes they will have money to pay the bill and on reflection we have to consider that the dispute EUA have with the lawyers is valid, not that we know all the details but 108k seems very high to settle that case, the petition could be thrown out at the hearing if it turns out its the lawyers who are at it with the size of that bill

More info for after it has been served, which is where we are now, it can be resolved but they have to act fast,

Advertisement and notice.- After the petition is issued, it must be advertised in the London Gazette according to Rule 7.16 of the Insolvency Rules 2016 in order to have the company wound up. Advertising in the London Gazette serves as notice to the public and other creditors that a winding-up petition has been presented against the company.

Response from the debtor company.- Once a winding-up petition is served on the company, the company has a limited time (usually 5 business days) to respond to the petition in order to avoid the risk of it being advertised in the London Gazette. The company can either dispute the petition, pay the debt, or propose a voluntary arrangement to the creditors.

Winding up petition hearing.- If the company fails to respond to the petition, fails to pay the debt or disputes the petition, a court hearing will take place. At the hearing, the court will consider the evidence presented by both parties and decide whether to grant the winding-up order, adjourn the petition or dismiss the petition.

Consequences of a Winding up Order: - If the winding-up order is granted, the court appoints a liquidator to take control of the company’s assets, sell them, and distribute the proceeds to the creditors according to the statutory order of priority.

It’s important to note that the filing of a winding-up petition is a serious step and can have significant implications for the company. It is usually seen as a last resort for creditors when all other attempts to recover the debt have failed.

https://www.franciswilksandjones.co.uk/winding-up-petition/

The 21 day period is prior to the petition not after so this is concerning to me,

here is how it works

Creditor must give notice to the debtor company at least 21 days of their intention to present a winding-up petition

Following this 21-day period, the debtor company has not made any proposal for the repayment of the debt that is to the creditor’s satisfaction

How does a winding-up petition work?

Once a winding-up petition has been issued, it will then be served to the company and advertised 7 working days later in The Gazette. It is then heard at court where it will either be approved or dismissed.

If the winding-up petition is approved by the court, a winding-up order is then made and served to the company.

https://www.clarkebell.com/blog/what-is-a-winding-up-petition/

i have always defended the bod but this is a worry, not good at all tbh

They must have known about it, as they have to be notified 21 days before the petition so WTF is going on

The Creditor must give notice to the debtor company at least 21 days of their intention to present a winding-up petition

Following this 21-day period, the debtor company has not made any proposal for the repayment of the debt that is to the creditor’s satisfaction

https://www.clarkebell.com/blog/what-is-a-winding-up-petition/

Yeh magnum possibly thats the case

can anyone else confirm or refute toffers claim that the 300k is the amount due to the lawyers ? as if that is the number then this could be a serious problem

Ide be surprised if it was for 300k toffers where did you get that figure from ?

Magnum you could be right with the 25k from cs helps cover the legal bill, i thought that myself but the thing i dont get is EUA would have been informed that the wind up petition would be applied for 21 days before oct 25th,

i cant work out why not settle it before it goes this far, that is a worry tbh