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Ignore a Statutory Demand and after 21 Days - Your Deemed Insolvent
What are my rights and responsibilities if I receive a statutory demand?
When a Section 459 Statutory Demand is received, it ought not be ignored.
The Statutory Demand is not the precursor to litigation which can be contested through the courts. It is the beginning of the potential winding up application for the company.
If the Statutory Demand is ignored, it might see your company placed into liquidation or having to pay a disputed debt to avoid liquidation. We have provided further information on statutory demands for your reference below. If you want to learn more or are concerned about the correct process to follow after being served with a statutory demand, contact one of our expert team members for free advice today.
- What is a Statutory Demand
- What does a Statutory Demand look like?
- Presumption of Insolvency if Demand is Unpaid
- What is the procedure for issuing a Statutory Demand
- Other issuing rules for Statutory Demands
- How is a Statutory Demand Served?
- How long does a creditor have to lodge a winding up application?
- Can the 21 days in which to comply with a Statutory Demand be extended?
- Resisting a Statutory Demand
- Conclusion
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