A statutory demand is a written request for payment of a debt due from an individual or a company.
If the demand is not met, the creditor may follow up:
- in the case of personal debts, including debts incurred as a sole trader or when trading in partnership with someone else, with a petition for bankruptcy
- in the case of company debts, with a petition for a winding up order
This guide explains what statutory demands are, how to serve a statutory demand, what to do if one is served on you, which forms to use and what part statutory demands play in insolvency proceedings. See what is a statutory demand.
It also details the procedures and forms that are required according to who owes money - eg an individual or sole trader, or a registered or unregistered limited company.