Serve a Statutory Demand

Recover outstanding debts swiftly...

You can make a Statutory Demand if a company owes more than £750 (the threshold is £5,000 for individuals), and the undisputed debt is less than six years old...

If your debtor fails to agree payment terms after 21 days, call 020 7504 1300 for advice on how to start bankruptcy or liquidation proceedings...

Insolvency & Law provides bespoke insolvency and debt recovery solutions to assist creditors with matters such as:

Formal Demands

Statutory Demands

Winding-up petitions

Statutory insolvency procedures

Why Should They Pay?

Failure to respond to either a Formal Demand or a Statutory Demand could result in bankruptcy or compulsory liquidation.

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Formal and Statutory Demands

Creditors tend to serve a Formal or Statutory Demand before commencing insolvency proceedings to wind up a limited company. Serving a Winding-up Petition after presenting a Statutory Demand will strengthen your case. But it isn't always necessary. We frequently recommend the issuing of a Formal Demand, which:

Outlines the amount and circumstances of the debt
Threatens the serving of a winding-up petition unless payment is made within 21 days

I&L helps creditors recover outstanding debts and invoices using powerful instruments such as Formal Demands, Statutory Demands, and Winding-up Petitions when appropriate in the instance of insolvent companies. Call 020 7504 1300 now for free and confidential advice...

Why Should They Pay?

Failure to respond to either a Formal Demand or a Statutory Demand could result in the winding up of a limited company or bankruptcy for an individual.

Winding-up Petition

You are free to serve a winding-up petition on a limited company 21 days after presenting your Statutory Demand. But only if:

The debt remains unpaid
No arrangement has been made to pay
The Statutory Demand has neither been withdrawn nor set aside

A debtor company that ignores a winding up petition may have its bank account(s) frozen.

Formal and Statutory Demands

Outlines the amount and circumstances of the debt
Threatens the serving of a winding-up petition unless payment is made within 21 days

Why Should They Pay?

Failure to respond to either a Formal Demand or a Statutory Demand could result in the winding up of a limited company or bankruptcy for an individual.