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CIVIL LAW

Companies - A Statutory Demand

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You must read all Netlaw's topics under Company Law to complete your necessary basic knowledge of the principles.

We also provide you with a direct link to the Government legislation site where you can look up ALL Acts of Parliament and Regulations and Rules. An Act is also known as a Statute. A Regulation is also sometimes known as a Rule. This Government legislation site is still going through some teething problems. But you will be able to access all legislation and find specific Acts and Rules and individual sections.

Statutes
Statutory Regulations
Local & Private Acts

The COMPANIES ACT 1993 provides a quick procedure for ensuring payment, or at least of knowing if the payment is possible. 

It can be used only if there is no dispute that the debt is owing. 

It used to be called the 218 Notice but now that the Companies Act has changed it is called  -  A  289 Statutory Demand.

The beauty of this Notice is that if the Company does not pay the amount demanded within 15 working days then you can move to wind the Company up in the High Court. 

If the debt is truly owing then rarely does a Company place itself at risk of being wound up.  The Company usually pays up!

However, you have a very strong obligation to ensure that you do not use the procedure if you know that the debt is genuinely in dispute.

We set out below the form to use for the Statutory Demand.    

Statutory Demand Document    

To recover money from a Company you must serve

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Feedback/Reviews/Blogs
"So Simple. So Easy. Thank you. My lawyer charged me $475 last time plus $175 for service. Tis way I did it all myself and a lot faster. Why are there not more sites like this?

Company name withheld by request - June 2007"

"Thank you for the ease of understanding on this topic and on your topic "Debt Collecting". I issued the Statutory Demand document myself against a company that owed my company $13,000. I copied and pasted off your site, filled in the simple details and served it. They paid within 4 days!!! I then rang 2 law firms on the North Shore and asked for a quote for exactly the same work and they quoted $450 plus GST and "$600 all up". Richard - North Auckland."
Feedback/Blogs/Reviews from related topic: Companies - Can a Director appear in Court for a Company?
"I found all this Company Law stuff really helpful. Not too academic but enough to get a really good grounding in some of the pitfalls. You need to read all the company topics to get a handle on this huge area. Anthony - Christchurch - April 2007"
Feedback/Blogs/Reviews from related topic: Companies - Can a Director appear in Court for a Company?
"I found all this Company Law stuff really helpful. Not too academic but enough to get a really good grounding in some of the pitfalls. You need to read all the company topics to get a handle on this huge area. Anthony - Christchurch - April 2007"
Feedback/Blogs/Reviews from related topic: Companies - Can a Director appear in Court for a Company?
"I found all this Company Law stuff really helpful. Not too academic but enough to get a really good grounding in some of the pitfalls. You need to read all the company topics to get a handle on this huge area. Anthony - Christchurch - April 2007"
Feedback/Blogs/Reviews from related topic: Companies - Can a Director appear in Court for a Company?
"I found all this Company Law stuff really helpful. Not too academic but enough to get a really good grounding in some of the pitfalls. You need to read all the company topics to get a handle on this huge area. Anthony - Christchurch - April 2007"
Feedback/Blogs/Reviews from related topic: Companies - Can a Director appear in Court for a Company?
"I found all this Company Law stuff really helpful. Not too academic but enough to get a really good grounding in some of the pitfalls. You need to read all the company topics to get a handle on this huge area. Anthony - Christchurch - April 2007"
"it is utterly unfair that a debtor can get away with not paying, and often does simply because the creditor doesn't have the money (because the debtor didn't pay!) to go through all of this process. I'm sickened by the proceess which has seen me now not only being ripped off by this debtor, but then(and still) by the debt collector I folishly decided to use because I couldn't afford the intial legal fees (due to not being paid by the debtor!). Court has finally decided in our favor, but debtor still hasn't paid and I have to find more yet money to apply to have him liquidated, without any promise of getting anything back."
Feedback/Blogs/Reviews from related topic: Companies - Can a Director appear in Court for a Company?
"I found all this Company Law stuff really helpful. Not too academic but enough to get a really good grounding in some of the pitfalls. You need to read all the company topics to get a handle on this huge area. Anthony - Christchurch - April 2007"
Feedback/Blogs/Reviews from related topic: Companies - Can a Director appear in Court for a Company?
"I found all these contract topics interesting and helpful. JD. Napier December 2006"
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