Feb 10, 2020
How to get a validation order to unfreeze your company's bank account
The guide on how to obtain a validation order to unfreeze your company's bank account and continue to trade after a winding up petition is served. We regularly assist companies facing frozen bank accounts.
Companies that have had a winding up petition served upon it will usually have its bank account frozen by its bank. This is because section 127 of the Insolvency Act effectively makes any disposition of the company’s assets after commencement of winding up void unless the court otherwise orders.
A bank will freeze the bank account in order to protect its position because in theory a liquidator…
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