FAQs

Anyone can make a statutory demand against a company or an individual.

A formal demand is a written request for payment that:

• Confirms the amount owed and the circumstances of the debt
• Threatens the presentation of a winding-up petition if payment isn't made within 21 days (three weeks)

You do not have to serve a statutory demand before presenting a winding-up petition.

However, serving a statutory demand will strengthen your case and make it easier to commence formal insolvency proceedings against your debtor.