A recent amendment to the Insolvency Rules 2009, now requires all petitioning creditors to place an advertisement in the London Gazette in the event of dismissal of a Winding Up Petition.
 
The amendment requires all petitioning creditors, unless the court otherwise directs, that when a petition is dismissed, as soon as reasonably practical, the petition shall give notice of the dismissal by way of advertisement in the London Gazette, or, if so directed, advertise in accordance with any directions issued by the court.
 
This amendment acts on a similar basis to the advertisement of the petition itself prior to the Winding Up Hearing, and the same information is contained in the advertisement, with additional information in relation to the date that the petition was originally advertised in the London Gazette, and the date of the hearing upon which the petition was dismissed.
 
The costs of the advertisement are exactly the same as the advertisement of the petition and the London Gazette will accept copies of the advertisements either by post, fax or electronic submission.
 
The amendment also makes a provision that if notice of the petition is not given in accordance with this rule, the court may dismiss it.

If you require any further information, please contact Mark Taylor.