Can I Stop a County Court Judgment With a Pre Pack?
If creditors have taken out a county court judgment (CCJ) against your company, the next step could be a winding up petition. Pre pack administration will give your business a fresh start free of debt. Where your company owes money which has not been paid, it is usual for the creditor to apply for a county court judgment (CCJ). This is a court order which will often demand that payment is made immediately and in full. Because your company is in financial difficulty it is likely that you are already spending your time fire fighting and dealing with creditors rather than focusing on running the business itself. A CCJ will increase the pressure you face. If it is not paid, this can be used by the creditor as a reason to apply for a winding up petition against your company. Legacy debt written off Pre pack administration is a very effective way of resolving a business debt problem. The process involves setting up a new company which then buys the assets of the old. The new company can then
