Winding-up petition served on Reform UK Party Limited (Nigel Farage)

On 7 July 2026, when Nigel Farage called the by-election for Clacton, he used his account on social control media to make a written promise to pay the cost of the election.

In UK law, the state typically reimburses candidates and political parties for their election expenses up to a specified limit. Within minutes of Farage's promise to pay, Count Binface appeared and asked if his space travel would be funded. A record number of candidates nominated in the by-election. How many of them felt they might have a chance of having their expenses reimbursed given the major parties were not running?

On 1 September 2026, I served a Statutory Demand on the registered office of Reform UK Party Limited asking them to honour the promise to pay election expenses. Every company director in the UK understands the Statutory Demand is a serious procedure and failure to respond or pay the debt within 21 days allows the creditor to immediately file a winding up petition. In such circumstances, where the debtor has already given written and verbal promises to pay, it is not necessary to obtain a judgment. The debtors can immediately involve the insolvency court.

In the middle of the 21 day period, things went from bad to worse. On 9 September 2026, the Met Police confirmed criminal investigations were underway into the source of Reform donations.

On 11 and 12 September 2026, billionaires made promises of record donations to Reform insisting they can ignore government plans to prohibit such donations from overseas electors.

Critically, the government announced on 25 March 2026 that the new laws would be back-dated to 25 March. In other words, any of these donations received after 25 March will have to be returned within thirty days of the law coming into force.

The practical implication of this new law is that Reform will have to use new donations they receive from mums and dads to send payments back to billionaires. If the mums and dads of middle England realize their next donations are funding the forced repayments to billionaires, will those mums and dads continue giving to Reform?

Farage seems to have limited choices. He can use the money from mums and dads to pay back the overseas billionaires or he can look for locally domiciled billionaires to replace the overseas billionaires. If neither of those things works, Reform will be unable to repay the billionaires and the party may technically become insolvent.

Under insolvency law, a company normally has a grace period of seven working days before the creditor advertises the winding up petition to the public. A creditor who advertises the petition before the grace period has passed may be looked at unfavourably by the court. Nonetheless, at the time I am publishing this on my blog I am aware the British media has already been tipped off about the insolvency procedure. Therefore, I don't want ordinary members of the Reform Party to be the last to know about this matter.

The progress of the new election funding regulations can be easily checked on the parliament web site. It looks like the bill is very close to becoming law.

The legal entity Reform UK Party Limited is obliged to submit their first set of annual accounts to Companies House by 30 September 2026. As part of the accounts, the auditor is obliged to make a declaration about whether the organisation is a going concern and whether there is any financial risk in the twelve months ahead. Clearly, the new laws about funding and the obligation to send large sums back to the overseas billionaires is something the auditor may contemplate before deciding whether to sign off on the accounts. There are only six days left for the auditor to sign off before the 30 September deadline.

The widespread scandals surrounding the Reform Party remind me of my discoveries in the Swiss JuristGate scandal. The connection with cryptocurrency was documented in the very first blog post about Swiss JuristGate.

Click here to download the full petition submitted in the High Court.

Remember the Swiss JuristGate scandal? When the illegal legal insurance firm was established in Switzerland, the director of FINMA, the Swiss financial regulator, was Mark Branson from the UK. In fact, Branson is originally from Colchester, which is right beside Clacton. Now Mark Branson is head of BaFin, the German financial regulator. That is one of the most senior roles in the Euro currency system.

 

Read more about the dangers of the upcoming cryptocurrency crash.