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    "Noted for the excellence of its white-collar defence practice"

    Chambers & Partners, 2014 edition

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    "Outstanding financial crime defence practice"

    Chambers & Partners, 2014 edition

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    "It’s a deluxe firm which pulls out all the stops for its clients"

    Chambers & Partners, 2014 edition

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    "They are the market leaders for serious crime’"

    Chambers & Partners, 2014 edition

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    "Kangs has an excellent reputation. They care about their clients and go the extra mile for them"

    Chambers & Partners, 2014 edition

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    "Kangs Solicitors is a standout firm"

    Legal 500, 2014 edition

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    "Kangs Solicitors is in the highest tier of firms"

    Legal 500, 2014 edition

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    "Hamraj Kang is noted for his very sharp legal brain"

    Legal 500, 2014 edition

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    "Kangs Solicitors fields a team of ‘technically able solicitors’
    and is well regarded for its serious crime and fraud work"

    Legal 500, 2014 edition

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    "Hamraj Kang is a shrewd tactician and very experienced"

    Legal 500, 2013 edition

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    "What the team is known for - handles an extensive array of criminal matters
    including murder, drugs and white-collar crime"

    Chambers & Partners 2013 edition

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    "Adept at dealing with cases that have an international dimension"

    Chambers & Partners 2013 edition

    Statutory Demands | Kangs Solicitors

    Criminal Defence Solicitors | Vat & Tax SolicitorsNEWSStatutory Demands | Kangs Solicitors

    Nov

    24

    November 24 , 2017 | Posted by Kangs Solicitors |

    Statutory Demands | Kangs Solicitors

    A statutory demand is a demand for payment of a debt whether it be owed by a company or an individual.

    Failure to comply with a statutory demand may lead to the issue of bankruptcy proceedings against an individual, where the debt is at least £5,000 or a winding up petition against a company owing at least £750, should the creditor desire.

    However, the mere issue of a statutory demand will very frequently achieve the desired effect given the severe consequences which may follow should it be ignored and a petition issued. The issue of a petition, and its advertisement in the London Gazette, may trigger circumstances that become difficult to control if other creditors have cause to be concerned about their relationship with the debtor.

    Many commercial lending agreements contain provisions enabling a lender to immediately call in its own debt upon the issue of a petition.

    The Latest Legislation | Kangs Advisory Solicitors

    The Insolvency (England and Wales) (Amendment) Rules 2017 came into force on 6th April 2017.

    The new rules replace the Insolvency Rules 1986 and are designed to reflect modern business practice and to make the insolvency process more efficient.

    Options Upon Receipt Of A Statutory Demand | Kangs Insolvency Defence Solicitors

    • The most important thing is not to ignore it, as doing so can lead to a chain of circumstances that is difficult to unravel.
    • Get immediate advice from experts
    • Do not delay; there are strict time limits on applications to set-aside.

    Grounds For Setting Aside A Statutory Demand | Kangs Defence Solicitors

    Reasons that will be considered by a court include:

    1. the debtor appears to have a counterclaim, set-off or cross demand which equals or exceeds the amount of the debt or debts specified in the statutory demand,
    2. the debt is disputed on genuine grounds,
    3. the Insolvency Rules have not been complied with such as service has not been effected correctly

    Who Can I Contact For Assistance? | Kangs Insolvency Solicitors

    Our team of experienced solicitors can provide you with all necessary advice and guidance to defend a Statutory Demand.

    Should you have any questions or need advice, please do not hesitate to contact our Team through one of our solicitors listed below:

    Hamraj Kang
    hkang@kangssolicitors.co.uk
    07976 258171020 7936 6396 | 0121 449 9888

    Tim Thompson
    tthompson@kangssolicitors.co.uk
    0121 449 9888 | 020 7936 6396 | 07710 67 77 67

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