6. Access to your bank account

Your company’s bank account will be frozen when someone files a petition to wind up the company.

You need a validation order to access it.

How to apply for a validation order
Tell the person who filed the winding up petition (the respondent) you’re applying for a validation order. You must also tell them what court you’ll apply to (usually the Companies Court) and when you’ll apply.

Fill in Form 7.1A. Write a witness statement. Take the form and the statement to court.

You need to pay a £155 fee.

What happens after you apply
you’ll be given a hearing on the same day or within the next few days.

At the hearing, you present your case to a registrar or district judge.

The respondent will present their case if they object to you getting a validation order.

At the end of the hearing you’ll either:

  • get a decision – you’ll also get a written copy sent to you
  • be asked to attend another hearing if the court wants more evidence

you’ll be given the validation order if your application is successful. You must give your bank a copy of this to access your company’s bank account.

If you don’t agree with the decision you may be able to appeal to the Chancery Division of the High Court.

Interested in finding out more?

Get in touch with us now to find out how we can help.