Ignore a Statutory Demand and after 21 Days - Your Deemed Insolvent!
When a Section 459 Statutory Demand is received, it ought not be ignored. It is not the precursor to litigation which can be contested through the courts. It is the beginning of the potential winding up application.
If the Statutory Demand is ignored, it might see your company placed into liquidation or having to pay a diputed debt to avaoid liquidation.
* 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?
