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winding-up
noun
- the process of finishing or closing something, esp the process of closing down a business
Example Sentences
In 2016, supporters asked the Welsh Rugby Union to intervene in the ownership of the club and, in 2018, it faced another winding-up petition in court, which was later dismissed, following the collapse of the club's owner Mike Cuddy's construction business Cuddy Group.
In their latest report, insolvency experts at Begbies Traynor said a company can be considered in critical financial distress if they have an outstanding county court judgment of over £5,000 or face a winding-up petition.
In November 2015, the club was sold to Kelvin Thomas and the Cobblers avoided a winding-up petition over an unpaid debt to HMRC, allowing focus to return to the pitch.
Rival developers Country Garden and Shimao have also been hit with a winding-up petitions in the city.
Hull Combined Court heard the process, known as a winding-up petition which was started by Hull City Council, had stalled because the council could not reach those running Legacy Independent Funeral Directors.
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