Company Winding Up
The statutory demand for payment of undisputed debts is an effective and cheap weapon in the armoury of a creditor seeking to enforce payment of overdue invoices. No fee is payable to a Court. If ignored, a winding up petition can be filed. However, like some swords, it is double edged and if used inappropriately can lead to expensive and perhaps sterile litigation.
HRJ advises on the use of statutory demands, the filing of winding up petitions and the defending of such petitions.
Individual Insolvency
Bankruptcy for those with little or no assets who are being relentlessly pursued by creditors for sums they cannot possibly pay can be a blessed relief.
Conversely, bankruptcy may be something to avoid at all costs if there are assets that a debtor
wishes to preserve for himself or his family.
The threat of bankruptcy is also a potent method of enforcing payment of debts by individuals.
HRJ advises creditors and debtors. HRJ may recommend that a debtor consults an Insolvency Practitioner for the preparation of an Individual Voluntary Arrangement.
HRJ will issue bankruptcy proceedings on behalf of the creditor and defend them on behalf of the debtor. HRJ also advises those who have been made bankrupt.
Charles Duchenne
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