Sentences with phrase «statutory demands»

This pressure of community and statutory demands on PBCs that operate with limited capacity and resources produces an opportunity for lateral violence within our families, communities and organisations.

Subject: Insolvency; Contracts; Cheques; Dishonour of cheques; Misrepresentation; Sale by auction; Setting aside; Statutory demands

Statutory demands have proved controversial because they are regularly used for tactical purposes.

The legal basis of statutory demands is relatively straightforward — the demand, after valid service, gives the debtor 21 days formal warning of intention to commence bankruptcy or winding up proceedings.

She has substantial experience in setting aside statutory demands, possession orders, orders for sale and charging orders.

Druces» Litigation & Dispute Resolution team works in conjunction with the Business Turnaround, Restructuring & Insolvency team in acting for clients on a variety of insolvency processes, procedures and litigation including the service of statutory demands, the presentation of bankruptcy and winding up petitions, applications for and defending against asset - freezing injunctions or injunctions to prevent the presentation of bankruptcy and winding up petitions, actions in relation to preferences and transactions at an undervalue, and other associated insolvency processes.

Recent experience in this area includes unfair prejudice petitions, claims for wrongful and fraudulent trading, applications to set aside statutory demands, validation orders and relating to void transactions.

Bankruptcy applications, including applications for sale and possession (and ancillary injunctive relief), applications for annulment (and rescission of an annulment order by a creditor following the bankrupt's failure to comply with the Insolvency Rules) and applications to set aside statutory demands.

He has been involved in contentious and advisory matters of all sizes, ranging from the Lehman Brothers Waterfall I and Waterfall II disputes and the Bernie Madoff fraud litigation (Primeo), to applications to set aside statutory demands and injunctions to restrain the presentation or advertisement of winding up petitions.

Tamara's recent insolvency work includes, successfully setting aside and / or defending statutory demands and defending bankruptcy petitions including appeals of annulment applications; resisting the presentation of winding up petitions and obtaining indemnity costs on behalf of a number of corporate client.

Once perfected, statutory demands were presented against both guarantors which resulted in the immediate start of negotiations followed by an instalment settlement of the entire debt, plus interest.

We also advise upon the option of serving statutory demands and the commencement of bankruptcy or winding up proceedings in appropriate cases.

Experience of dealing with statutory demands and insolvency related hearings from both the creditor and debtor side; including successfully defending the directors of a large group of companies in administration in respect of claims made under personal guarantees.

If recovery is not possible without litigation then our Insolvency and Restructuring team can use its considerable experience to bring court proceedings or bankruptcy proceedings against individual guarantors and, if necessary, resist applications to set aside statutory demands.

Some creditors use statutory demands as a cheap tool to persuade you to pay your debts.

Statutory demands can be hand delivered or posted.

A statutory demand requires the company to pay the entire debt or enter into a payment plan with us within 21 days.

This is because it does not cost very much for a creditor to send you a statutory demand, but the creditor would have to pay large up - front fees to make you bankrupt.

In certain circumstances, for example you have an IVA that has failed, your creditors do not have to serve you with a statutory demand before making you bankrupt.

The creditor can apply for a bankruptcy order through the County Court 21 days after a statutory demand has been served.

You can apply to have a statutory demand «set aside» in certain circumstances — for example if your debt is below # 5,000 or there is a significant dispute about the money owed.

If a creditor issues a statutory demand and is threatening to make you bankrupt, you may prefer to use money from your pension to deal with this instead of trying other options, like offering a charge on your property.

If you have put in a defence to the claim, then the creditor will need to show the court a good reason why they have gone ahead and issued a statutory demand on a debt that they know you have disputed.

If your creditor already has a county court judgment against you for the debt, you will not usually be able to set aside the statutory demand on the grounds that you dispute the debt.

If a creditor petitions for your bankruptcy more than four months after they served the statutory demand, they should explain to the court why there has been a delay.

If you have been sent a statutory demand and you do not want to be made bankrupt, you will need immediate advice.

The procedure for corporate insolvency is similar to bankruptcy, but the statutory demand can be served by post on the registered office of the Debtor company and the minimum sum that can be pursued is # 750.

(personal insolvency; mortgage fraud; agency; setting aside statutory demand, nature of appeal to single Judge of the Chancery Division)

The Debtor must apply to set aside the demand within 18 days of service of the statutory demand; after 21 days of service the Creditor can issue a bankruptcy petition.

The Court may order the Creditor to pay the costs of the application if it finds the statutory demand should not have been served.

This includes the initial service of a statutory demand; the making of a formal demand for the monies due, through to presenting a bankruptcy petition and obtaining the order.

[33] While it makes little to no difference for analytical purposes, the alternative defence position, and the one I find more accurately reflects the informational function and mandatory impact of the statutory demand, is that the officer did not make an ASD demand until he read it from his notebook and translated it into non-legalese... [more]

[33] While it makes little to no difference for analytical purposes, the alternative defence position, and the one I find more accurately reflects the informational function and mandatory impact of the statutory demand, is that the officer did not make an ASD demand until he read it from his notebook and translated it into non-legalese at approximately 11:25 pm — some 10 minutes after he had formed the reasonable suspicion to make such demand.

32 on the basis of an unsatisfied statutory demand.

The taxpayer did not initiate the statutory disputes procedure and the Commissioner then took enforcement action to recover the debt by way of a statutory demand.

You must do this within 21 days of getting the statutory demand.

Your creditors can apply to wind up your company if you don't respond to the statutory demand within 21 days.

Assessing material irregularities in IVAs Setting aside a statutory demand (Dunbar Assets plc v Butler) Lexis PSL

Re Grabiec [2015] EWHC 1548 (Ch); [2015] B.P.I.R. 1311 Appeal to High Court following decision of Chief Registrar raising issues regarding the availability of set - off as a defence to a statutory demand, including where the debtor's proof had been rejected in the creditor company's winding up

Rory Brown represented the applicant property developer - in his application in the Chancery Division of the High Court of Justice - to set aside a statutory demand presented in respect of an instalment payment of # 2 million said to be due under a contract for the sale of shares in a corporate property development vehicle (Doherty v Fannigan [2016] EWHC 2098 (Ch)-RRB-.

A debtor was estopped from challenging a statutory demand using an argument that had failed in earlier proceedings on a different statutory demand for the same debt.

Guy v Pannone LLP [2010] EWCA Civ 1396 an attempt to set aside a statutory demand on the groudns that there was a viable negligence claim against the solicitors.

It was held that a triable issue of fact is insufficient to set aside a statutory demand: the issue must also disclose a defence.

Serving a statutory demand is an aggressive tactic to adopt to recover a debt.

You must first serve the individual with a statutory demand in a set format giving the individual 21 days to make payment to you.

Travis Perkins plc v Burton (County Court, Brighton) application to set aside statutory demand.

Samuel Pedley is experienced in bankruptcy matters and can draft a statutory demand for as little as # 150 plus VAT and a bankruptcy petition for as little as # 500 plus VAT.

Both the statutory demand and the bankruptcy petition should be served on the individual by a process server.

In a recent decision, the Bankruptcy High Court has set aside a statutory demand against a guarantor of a debt of over $ 6 million on numerous grounds including lack of evidence of an assignment of the debt in question, a limitation defence and the contractual interpretation of the guarantee.

These three issues could have been avoided by Promontoria and are standard issues for a creditor to consider before serving a statutory demand or taking any enforcement action.