Can I ignore a statutory demand?

If you receive a statutory demand but then ignore it you run the risk of either bankruptcy proceedings being issued against you (if you are an individual) or a winding-up petition being issued against you (if you are a Company). If you have a defence to the petition and do not raise that until later you may be ordered to pay the creditor’s costs as well as your own. Therefore anyone who has received a statutory demand should act quickly to try to ensure a petition for bankruptcy or for winding up are not issued against them.