This blog post features a testimonial from a director client who was served with a Statutory Demand by two purported creditors. The client was recommended to the Director’s Friend by their business adviser.
A Statutory Demand:
A Statutory Demand is served by a creditor. It demands that the person pay a sum of money within 21 days or apply to set aside the Statutory Demand within 18 days. Otherwise that person could be served with a bankruptcy petition. If they are made bankrupt their property and goods are taken away from them. Therefore, it is a very serious matter for the person in that it is a very real threat of being made bankrupt.
A Statutory Demand can also be served upon a company. How the company can respond is different as a company cannot apply to set aside a Statutory Demand. Amongst the options a company has is to apply to court to restrain presentation of a winding up petition. This should also be made within 21 days of service.
Details of the Statutory Demand:
The Statutory Demand was attempting to make the director client personally liable for debts of his company.
The Director’s Friend was able to help:
This is the testimonial for the advice of the Director’s Friend:
“I instructed Richard Cole (the Director’s Friend) in respect of a Statutory Demand that had been served upon me. I was extremely concerned and worried by receiving the Statutory Demand particularly as my first language is not English. I was referred to Richard Cole who was able to take my instructions. Richard Cole was able to file my application to set aside the Statutory Demand at court within 48 hours of receiving my initial instructions.
Negotiations were entered into with my purported creditors. The Statutory Demand was successfully set aside at Court on the basis that I disputed the same. With Richard Cole’s timely advice, the Deputy Registrar awarded me 90% of my legal costs for making the application.
I was very pleased and impressed with the service that Richard Cole as the Director’s Friend provided to me and the result that he achieved for me. Richard Cole certainly is the Director’s Friend! I would have no hesitation in recommending Richard Cole to you for insolvency / directors’ advice.”
RL – Oxfordshire.
The Statutory Demand was dismissed with costs awarded.
If you, someone you know or a company is served with a Statutory Demand then bearing in mind the short timescales to respond please contact the Director’s Friend for help.
As the Director’s Friend, I was very grateful to receive this testimonial. It demonstrates the approach (and speed) that the Director’s Friend takes with the experience and knowledge that the Director’s Friend can bring to bear for you in your corner.
My name is Richard Cole. I am an insolvency solicitor who formerly worked in the Insolvency Service carrying out director disqualification investigations. I am now the Director’s Friend. Why not contact me to discuss on +44(0) 1992 558 411. The earlier that you speak with me the more that I can likely help.
Until the next time …
The Director’s Friend