Dealing with your limited company's debts
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
- put your company into administration
- apply to liquidate (바카라 사이트˜wind up바카라 사이트™) your company yourself
Your creditors can apply to wind up your company if you do not respond to the statutory demand within 21 days.
Stop your creditors from applying to wind up your company
You can apply to the court to stop (바카라 사이트˜restrain바카라 사이트™) your creditors from applying to wind up your company. You must do this within 21 days of getting the statutory demand.
Download and fill in application form IAA.
Which court you apply to depends on how much money shareholders have paid into your company by buying shares (바카라 사이트˜paid up share capital바카라 사이트™).
Check the Companies House register to find out your company바카라 사이트™s paid up share capital.
Your paid up share capital is less than £120,000
Use the to find a court dealing with insolvency. You must use the court nearest your company바카라 사이트™s registered office.
Your paid up share capital is more than £120,000
You must apply to the High Court.
The High Court
Companies Court
7 Rolls Buildings
Fetter Lane
London
EC4A 1NL