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Restructuring and Insolvency

Statutory Demand

A statutory demand if a formal demand for payment of a debt owed by either a company or an individual (the debtor). Anybody that is owed money (the creditor) can make a statutory demand, so long as the debt is less than six years old.   Once the statutory...

Corporate Insolvency

Insolvency occurs when an individual or business does not have sufficient assets to cover its debts, or where they are unable to pay their debts as they become due. The procedure to be followed differs depending on whether the insolvent concerns an individual or company. For...

What Happens when Filing for Bankruptcy?

Bankruptcy is a formal insolvency procedure for individuals, designed to release an individual from their debts when they can no longer pay them, and allowing creditors to be repaid fairly. Alternatives to Bankruptcy Before filing for bankruptcy, it is important to...

The information on this website is intended as a guide and does not constitute legal advice. Vardags do not accept liability for any errors in the information on this website, nor any losses stemming from reliance upon the statements made herein. All articles and pages aim to reflect the legal position at time they were published, and may have been rendered obsolete by subsequent developments in the law. Should you require specialist advice, tailored to your situation, please see how Vardags can help you.

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