Could anyone please advise if it is possible for the shareholder of a Limited Company to commence a Voluntary Creditors Liquidation following the serving of a Winding Up Petition? The Winding Up Petition is massively flawed and exaggerated. We are willing to settle with the petitioner at the correct amount. The Company though has suffered terribly as a consequence of its largest creditor being placed in Administration as a substantial payment was about to be made and will not recover. A Voluntary Creditors Liquidation was being considered by the shareholder who initially wished to pay this particular supplier what was legitimately owed, and then wind the Company up, without the inconvenience/worry/threat of the Official Receiver. Can anyone advise if it is still possible to take this action. Many thanks.