This podcast explores why statutory demands are commonly served just before Christmas and how the holiday shutdown can expose businesses to serious insolvency risk.

In this episode of Explain That by Velocity Legal, Andrew is joined by Litigation and Insolvency lawyers, Seamus Ryan and Sasha Kenny to discuss:
• What a statutory demand is and why it is so powerful• Why the twenty one day response period does not pause over Christmas

• How missed deadlines during the holiday period can lead to winding up applications

• Why disputed debts, offsetting claims and defects in the demand matter

• How the Victorian Supreme Court has viewed Christmas statutory demands in recent cases

• When serving a statutory demand over the holidays can backfire for creditors

A timely episode for business owners, directors and advisers looking to avoid unwelcome surprises over the Christmas break.

For tailored advice on statutory demands, insolvency risk and dispute strategy, contact our Disputes and Insolvency Team at www.velocitylegal.com.au.