A PETITION to wind up a creative arts academy based in St Helens town centre has been lodged with the High Court of Justice by a local businessman.
A notice placed in The Gazette states that a petition to wind up MD Productions has been presented by C O'Dea Property and Services Ltd and Chris O'Dea, under The Insolvency Act.
A winding up petition (WUP) is a legal action taken by a creditor or creditors against a company that owes them money. Others - who also believe they are owed money - can also join the petition.
Court date set
The petition will be heard at the Business and Property Courts in Manchester on February 14, 2023, from 10am.
MD Productions, also known as MD Creatives, MD Creatives, is a local creative arts academy, based on Barrow Street, St Helens. It is headed by Miguel Doforo, the creative director and managing director.
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The company had signed a five-year lease with the Citadel Arts Centre in December 2020 but apparent financial difficulties following the Covid pandemic and the cost of living crisis, had forced it vacate the premises in 2022 and downsize.
The winding up petition against MD Productions has been brought by Chris O'Dea, who is known for owning the OD's fashion stores in St Helens.
Once a WUP is issued and served, it is advertised seven working days later in The Gazette, and is then heard at court, where it is either dismissed or approved.
When approached by the Star for comment, Mr Doforo said the matter was in the hands of his legal team. He did not comment further.
The website gov.uk explains when a winding up order can be made
People can apply to the court to close or ‘wind up’ a company if it cannot pay its debts.
To wind up a company you must: be owed £750 or more be able to prove that the company cannot pay you You need to fill in forms and send them to the right court to apply to wind up a company.
The application to the court is known as a ‘winding-up petition’
What happens if you’re successful: the company assets are sold any legal disputes are settled the company collects money it’s owed funds are paid to you and any other creditors
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