But isn't also true that if a Winding Up Petition is served and they go into administration then Lens are likely only to recieve a few pence in the pound so why would they do that. Surely it is better to sue so to try get the money off them.
Not at all. A law suit simply determines that the debt is payable, Lens will have a contract that already proves this, hence they can serve a stautory demand. A winder forces them to pay the debt of be wound up as a company
Even if they wound up Pompey they would still be behind any secured creditor. You are correct in your ascertion that Lens would get f'all pence in the pound