There is nothing preventing you from serving a Statutory Demand on a Company in order to recover monies due and owing to you. The initial restrictions imposed following the Coronavirus Pandemic have been lifted. A Statutory Demand should only be served if the debt is £10,000 or more.The Statutory Demand is the fore runner to the issue of a Winding Up Petition.Under the Corporate Insolvency and Government’s Act 2020 (Coronavirus) amendment to Schedule 10 (Regulations) 2021 you are able to present a Winding Up Petition provided a Creditor has:
- Shown that the debt is liquidated and has fallen due for payment
- and that the Creditor has delivered a written Notice to the Debtor Company containing a Statement seeking proposals for the payment of the debt to the Creditor’s satisfaction.
- At the end of 21 days the Debtor Company has not made proposals for payment or alternatively make satisfactory proposals.
- The debt due is more than £10,000.
Presenting a Winding Up Petition can be a difficult process and legal advice should be sought at the earliest opportunity. Unfortunately, you are not able to issue a Winding Up Petition prior to the 31
st of March 2022 in relation to any commercial rent arrears.
Should you have any queries concerning this please contact Kally Singh at kally.singh@hegarty.co.uk.
