Section 126(1)

At any time after the presentation of a winding-up petition, and before a winding-up order has been made, the company, or any creditor or contributory, may— and the court to which the application is so made may (as the case may be) stay, sist or restrain the proceedings accordingly on such terms as it thinks fit. where any action or proceeding against the company is pending in the High Court or Court of Appeal in England and Wales or Northern Ireland, apply to the court in which the action or proceeding is pending for a stay of proceedings therein, and where any other action or proceeding is pending against the company, apply to the court having jurisdiction to wind up the company to restrain further proceedings in the action or proceeding;

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Source: legislation.gov.uk · retrieved 2026-09-04