Statutory demand form sd1 example 2025

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The document outlines the procedure for issuing a Statutory Demand under sections 123(1)(a) and 222(1)(a) of the Insolvency Act 1986. It provides detailed instructions for creditors on how to complete the demand, including necessary information about the debtor company, details of the debt, and communication contacts. The demand must be addressed within 21 days to avoid a winding-up petition against the company. It emphasizes the importance of compliance and offers guidance on how a company can respond to or dispute the demand.

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What is the minimum amount for a statutory demand?

A statutory demand is a notice that creditors can issue to demand payment of a debt or debts. Minimum amount for a statutory demand: $4,000. This minimum amount was increased on 1 July 2021.

How to set aside statutory demand?

To set aside the statutory demand you must do the following within 18 days of it being served on you. Apply using form IAA. Complete a witness statement in support of your application. Provide three copies of each form to the court when you apply. Apply to the court named on the statutory demand.

What is the issuance of statutory demand?

A statutory demand under section 6A of the Ordinance must be dated, and be signed either by the creditor himself or by a person stating himself to be authorized to make the demand on the creditors behalf. The statutory demand must specify whether it is made under section 6A(1) or (2) of the Ordinance.

What does a statutory demand do?

What is a statutory demand? A statutory demand is a kind of written warning from a creditor. It will state that if you dont pay your debt or come to another arrangement thats acceptable to the creditor, they may start court proceedings to make you bankrupt.

What is an SD1?

Completing the SD1 statutory demand form is the first step towards winding up the company that owes you money. It is the right form to use if the debt in question is owed by a company and is payable immediately or already overdue.

sd1 statutory demand form

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What is the affidavit of statutory demand?

The purpose of the accompanying affidavit in support of the statutory demand is to: clarify the amount that is due and payable by the company debtor; state the source of the deponents knowledge of the debts, and. note the deponents belief that there is no genuine dispute about the existence or debt amount.

How do you respond to a statutory demand?

Responding to a statutory demand You have 21 days to respond to a statutory demand. To respond, you must do one of the following: pay the debt. reach an agreement with the creditor to pay the debt in the future, for example by using a Company Voluntary Arrangement.