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Other issuing rules for Statutory Demands
A Statutory Demand may not include a claim for unliquidated damages however, one can subtract the amounts not due from the amount that is actually due so long as more than $2,000 is owing.
Multiple creditors are not allowed to serve a single Statutory Demand on one company.
A creditor is not entitled to serve a Statutory Demand at the same time as proceeding against the debtor company's directors in relation to the same alleged debt.
If a creditor is a company, the Statutory Demand should be given under common seal
The demand must correctly state the debtor's name and its registered office
The demand must specify a place in Australia where the debt can be paid.
If your business has been served with a statutory demand or you are concerned about business bankruptcy, contact us at Liquidation Direct today for free advice on business bankruptcy and to discuss potential solutions.
By acting now, we may be able to help you avoid liquidation, bankruptcy and the stress involved in becoming insolvent.
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