Q&As
What are the grounds for setting aside a statutory demand against an individual?
Published on: 22 June 2023
The court may grant an application to set aside a statutory demand if:
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the debtor has a counterclaim, set-off or cross-demand in an amount which equals or exceeds the debt
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the debt is disputed on substantial grounds
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the creditor is a secured creditor who has not waived their security or the court is satisfied that the value of the security equals or exceeds the full amount of the debt. Promontoria (Chestnut) Ltd v Bell clarifies that third party
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