Case Studies Insolvency We represented IBC Ltd when Yell.com petitioned for their liquidation under Section 122(d) of the Insolvency Act 1986. The Petition proceeded on the basis of a demand for payment of a sum of only £244.62. The matter was finally heard by the Sheriff Principal in the Appeal Court. Having lost at First Instance, Yell.com sought to persuade the Sheriff Principal that they were entitled to petition for the liquidation of a company who had failed to satisfy a demand on time.  We successfully argued that it was inequitable to allow the draconian remedy of liquidation for such a paltry sum. The Appeal Court upheld the Sheriff's earlier decision which suggested that the correct method to recover such debts would be in the small claims court. Expenses were awarded in full, in favour of our clients.