Company Insolvency | Statutory Demands

The information below relates to creditors’ Statutory Demands for payment of debts. If want advice etc about company insolvency generally please see our Business & charities advice page.

If your company has been issued with a statutory demand and fails to pay the amount claimed within 21 days the company may be wound up. However, if there is a dispute concerning the money claimed the company may apply to have the statutory demand set aside or deemed invalid. LME assists clients to set aside statutory demands for highly competitive fees, below.

All you need to do is provide

Tax deduction for legal expenses of recovering income

This page only applies when you disagree that you owe the debt. If you agree you owe the money but can’t afford to pay it, for example, see our page Manage debt. In any case, do not simply ignore a legal letter, court claim or judgment because this is likely to make matters worse.