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Receiving a statutory demand can be a particularly stressful time for any person or business especially when it is understood that the recipient only has a short period of time to respond prior to a bankruptcy or, in the case of a business, a winding-up petition being presented. The individual or business presenting the petition has to show to the court that there is a debt of over £5,000 owing and that the recipient of the petition cannot meet their debts as they fall due.
Given that there are strict rules governing the bankruptcy or insolvency process, we at Martin Tolhurst have not only guided individuals and businesses carefully through the process for recovery of monies owed to them but have successfully challenged the issuing of statutory demands for several individuals and businesses alike. Our experienced professionals can swiftly review the reasons why you have received the demand, whether urgent action needs to be taken and the chances of success to prevent a petition being presented and advertised and an order of the court made against you or your business.
On the basis we advise many recipients of statutory demands it also places us in a particularly strong position to advise people in receipt of a county court judgment against an individual or business or simply owed money, whether the bankruptcy or winding-up process is the correct method to recover those monies or whether other methods are appropriate.
For further information call our First Contact Team on 01474 546013 to find out how we can help you.