Statutory Demand Form
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People also ask
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How do I withdraw a statutory demand?
There is no formal procedure for withdrawing a statutory demand. In practice, the Creditor may simply confirm in writing that the statutory demand is withdrawn. The Creditor may also give an undertaking not to present a winding petition on the basis of the demand in the case of a company.
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What is a statutory demand in the insolvency act?
You can make a statutory demand to ask for payment of a debt from an individual or company. Anyone who's owed money (the 'creditor') can make a statutory demand. You do not need a lawyer. If the debt's over 6 years old, you cannot usually make a statutory demand.
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What does it mean to set aside a statutory demand?
If you do not agree with a statutory demand you've been given, you can apply to challenge it and get it 'set aside'. You can be made bankrupt or your company wound up if you ignore a statutory demand. You must apply to the court named on your statutory demand.
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What is the 6 month statutory demand?
If the Statutory Demand is not satisfied, withdrawn or dismissed by the Court, then your Company will be presumed at law to be insolvent for a period of 6 months.
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What is a statutory demand under Section 268?
A statutory demand is a demand for payment of a debt within 21 days served upon an individual in ance with s. 268(1)(a) Insolvency Act 1986. It is a document served by a creditor upon a debtor that is intended to prove that the debtor owes the specified sum of money which is over £750.
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How do I withdraw a statutory demand?
There is no formal procedure for withdrawing a statutory demand. In practice, the Creditor may simply confirm in writing that the statutory demand is withdrawn. The Creditor may also give an undertaking not to present a winding petition on the basis of the demand in the case of a company.
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What is a statutory demand under 750?
A statutory demand is a formal demand served under the insolvency laws for repayment of any debt over £750. if a statutory demand is ignored and not paid within 21 days, the company can be wound-up by the court as it is presumed that the company cannot pay its debts.
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What is a 459 statutory demand?
A Creditor's Statutory Demand is a technical letter of demand, issued under Section 459E of the Corporations Act 2001 (Cth). It may be issued against a company in circumstances where the issuing creditor believes that there is no dispute in relation to the debt owed to it by the debtor company.
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