Q&As

Can a statutory demand be served on a debtor in England and Wales in respect of a money judgment made in another jurisdiction?

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Produced in partnership with Caroline Clark
Published on: 11 January 2018
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In answering this Q&A it has been assumed that the debtor’s centre of main interests is in England and Wales.

A statutory demand is served on a debtor under section 268 of the Insolvency Act 1986 (IA 1986) by a creditor owed more than £5,000 (the bankruptcy level) by an individual debtor or under IA 1986, s 123 by a creditor owed more than £750 by a debtor that is also a limited company. If payment in full of the outstanding debt is not received by the creditor within 21 days of the service of the statutory demand then this is legal proof that the corporate debtor is insolvent and that the individual

Caroline Clark
Caroline Clark

Caroline Clark's insolvency career began over 30 years ago and includes senior responsibility for a portfolio of cases as well as regulatory experience working for the Joint Insolvency Monitoring Unit and national responsibility for compliance and technical matters working for major UK practices. Caroline is now a director of RMCSC, giving high quality insolvency compliance and management advice. As well as being a qualified insolvency practitioner Caroline has an MBA. This, together with experience outside the insolvency profession means that Caroline is qualified to advise about strategic and operational management as well as insolvency. Caroline is also a member of Mensa. Caroline has experience in most areas of personal and corporate insolvency but areas of particular interest include:- Compliance with statute and the principles of best practice including SIPs Strategy, systems and policies Risk analysis Complaints Progress reports Remuneration Regulation and fee estimates The practical and commercial application of legal and regulatory insolvency requirements Conflicts of interest

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Centre of Main Interests definition
What does Centre of Main Interests mean?

A term used in (a) the EC Regulation on insolvency 1346/2000 (the EC Regulation on Insolvency)/the recast regulation; and (b) UNCITRAL Model Law regarding main proceedings

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