Company – Statutory Demands
We could serve a Statutory Demand. This will set out the debt owed to you and details of the creditor and how payment can be made.
The Statutory Demand will need to be personally served on the debtor. This is very important as if you proceed further along the process you will need to prove service of the Demand.
The debtor will have 21 days from the date the demand is served to deal with the demand. In the event they do not pay or apply to set the Demand aside then the next step would be to issue a Winding-up Petition.
We send a letter to the debtor giving notice of intention to issue a Winding-up Petition. The letter would advise that in the event payment is not received within a certain number of days, usually three or seven days, then a Winding Up Petition will be issued.
If payment is not received within the time stated in the letter, the next step would be to issue a Winding-up Petition.