Winding-up Petition Hearing: The Old Racecourse Limited (CR-2026-001757)
The Old Racecourse Limited (company number 13146191), an East Sussex-based real estate management firm, faces a winding-up petition hearing on 13 July 2026. Registered under case CR-2026-001757, the matter will be heard before the Insolvency and Companies Court.
A petition presented under s.123 of the Insolvency Act 1986 is a severe escalation in debt recovery. It signals a creditor's formal assertion that the company is insolvent on a cash-flow or balance-sheet basis. The forthcoming hearing will determine whether the court should grant a winding-up order, compelling the company into liquidation.
Hearing details
| Detail | Information |
| :--- | :--- |
| Case Name | The Old Racecourse Limited |
| Case Number | CR-2026-001757 |
| Court | High Court of Justice (Insolvency and Companies Court) |
| Hearing Date | 13 July 2026 |
| Hearing Time | 10:30 am |
| Venue | Non-attendance (Remote/Paper-based) |
| Case Type | Winding-up Petition |
Company snapshot
Incorporated on 20 January 2021, The Old Racecourse Limited operates under SIC code 68209, which covers the letting and operating of conference and exhibition centres. Its registered office is County Stables, The Old Racecourse, Lewes, East Sussex, BN7 1UR.
The Companies House register currently lists the entity as 'Active'. As a private limited company, its directors hold strict fiduciary duties under the Companies Act 2006. During the twilight period of insolvency, these duties shift from the shareholders to the creditors. Directors who allow a company to continue trading when there is no reasonable prospect of avoiding insolvent liquidation risk personal liability for wrongful trading under s.214 of the Insolvency Act 1986.
Expert analysis: The s.127 risk for counterparties
Once a petition is presented, the immediate commercial risk transfers to the company's suppliers, lenders, and tenants. Under s.127 of the Insolvency Act 1986, any disposition of the company's property made after the presentation of the petition is void if a winding-up order is subsequently made, unless the court orders otherwise.
When a petition is advertised in The Gazette, retail banks routinely freeze the company's accounts to prevent voidable transactions. For suppliers, this means any payments received after the petition date could be clawed back by a liquidator. Directors often must apply for a Validation Order from the court to unfreeze accounts and pay critical staff or suppliers to keep the business operational pending the hearing.
Worked example: Supplier exposure and clawback
Consider a composite scenario. A facilities management firm holds a £45,000 unsecured ledger with a real estate operator facing a petition. The supplier receives a £10,000 part-payment two days after the petition is lodged at court.
If the court grants the winding-up order weeks later, the appointed liquidator will demand the return of that £10,000 under s.127. The supplier must return the funds and then claim for the full £45,000 as an unsecured creditor, likely receiving pennies in the pound. To mitigate this risk, credit controllers must execute a winding up petition search before accepting late payments from distressed entities.
Creditor action framework
Counterparties exposed to The Old Racecourse Limited should execute the following defensive steps immediately:
1. Quantify immediate exposure: Calculate all outstanding invoices, unbilled work-in-progress, and uncashed cheques.
2. Review security and priority: Execute a company charge check to identify existing fixed or floating charges held by senior lenders. This dictates where you stand in the creditor hierarchy.
3. Enforce retention of title (ROT): If goods have been supplied but not paid for, invoke ROT clauses immediately before a liquidator is appointed.
4. Suspend credit facilities: Halt any further supply of goods or services on credit terms to prevent the debt from compounding.
5. Assess support or opposition: Creditors owed money may file a Notice of Appearance to support the petition. This ensures they are heard if the original petitioner attempts to withdraw after securing a private settlement.
Traditional vs modern intelligence workflows
Historically, monitoring corporate distress required manual, repetitive effort. Credit managers and solicitors would manually cross-reference daily High Court cause lists, wait for delayed publication in The Gazette, or rely on periodic credit agency updates. This reactive approach often leaves suppliers exposed, as the critical window between a petition being presented and bank accounts being frozen is notoriously narrow.
Modern corporate intelligence replaces this manual checking. By integrating direct court feeds, Companies House data, and Gazette notices, professionals receive immediate alerts the moment a petition is listed or a structural change occurs. Setting up free company monitoring ensures that credit limits can be restricted automatically, protecting the ledger before a formal insolvency event crystallises.
FAQ
What happens at a non-attendance winding-up hearing?
Non-attendance hearings are typically used for uncontested matters, procedural adjournments, or dismissals where the debt has been settled. The judge reviews the paper evidence and makes an order without requiring counsel to appear in person.
Can a company trade while a petition is pending?
Yes, but it is highly restricted. Because of the s.127 risk regarding void dispositions, directors often need to apply for a Validation Order from the court to unfreeze bank accounts and pay critical staff or suppliers.
How do I find out who presented the petition?
The petitioning creditor's details are published in The Gazette advertisement. If the petition has not yet been advertised, interested parties can obtain the information via the court file or a specialist petition database.
What is the priority of creditors if a winding-up order is made?
Secured creditors with fixed charges are paid first, followed by preferential creditors (including certain HMRC debts and employee wages), prescribed part creditors, floating charge holders, and finally unsecured creditors.
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Disclaimer: This report summarises entries on the published court cause list. Presentation of a petition is not a determination of insolvency; the outcome is a matter for the court. Companies believing they are named incorrectly should email contact@corp-intel.co.uk.
To investigate the petitioning creditor, track case CR-2026-001757, or review historical filings for The Old Racecourse Limited, access the Corp Intel company search platform.