Formal and Statutory Demands

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Before launching insolvency proceedings against a debtor, you must first serve either a:

  • Formal demand
  • Statutory demand

You will strengthen your case by serving a statutory demand before presenting a petition to:

But statutory demands are not obligatory in winding up a company. Alternatively, you may issue a formal demand that:

  • Confirms the amount owed
  • Explains why the debt is owed
  • Threatens winding-up proceedings unless payment is made within 18 days
successful statutory demand story 3

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The Insolvency & Law Business Advice Show is a podcast dedicated to debt recovery, credit management and insolvency in England and Wales. Learn about serving statutory demands on individuals and companies in this podcast episode...

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