Statutory demand

Resource type: Glossary item

Status: Maintained

Jurisdictions: England, Wales

A formal written demand for payment of a debt that exceeds £750 within 21 days. If the debtor does not pay within the 21 days, a creditor can present a petition to the court for bankruptcy (www.practicallaw.com/A35896)/winding up (www.practicallaw.com/A35617).

Actions
Resource information
Show resource details Hide resource details
  • Resource ID: 4-107-7317
  • Products:  IP&IT, PLC Glossary, PLC Magazine (UK), PLC UK Commercial, PLC UK Construction, PLC UK Corporate, PLC UK Dispute Resolution, PLC UK Employment, PLC UK Environment, PLC UK Law Department, PLC UK Pensions, PLC UK Property, PLC UK Restructuring and Insolvency, PLC UK Share Schemes & Incentives
  • This resource is maintained, meaning that we monitor developments on a regular basis and update it as soon as possible.
Ask a question
Print
Related content
Related content
Topics
Practice note: overview
Practice notes
Checklist
Legal update: case report
{ "siteName" : "PLC", "objType" : "PLC_Doc_C", "objID" : "1247245016953", "objName" : "Statutory demand", "userID" : "2", "objUrl" : "http://uk.practicallaw.com/cs/Satellite/4-107-7317?source=relatedcontent", "pageType" : "", "contentAccessed" : "true", "analyticsPermCookie" : "2faf5a63:13ed2ae5faf:376e", "analyticsSessionCookie" : "2faf5a63:13ed2ae5faf:376f", "statisticSensorPath" : "http://analytics.practicallaw.com/sensor/statistic" }