Home > FAQ > Business Law FAQ'S > What happens if a statutory demand is granted?

A statutory demand cannot be granted. A creditor (person or company who says they are owed monies) can use a statutory demand as the first step in the insolvency process leading to bankruptcy in the case of an individual, or winding up in the case of a company.

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Does it make a difference if my debtor is a large company or an individual? Read More