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I have a Judgment (default) against a financial company who owe me £8000.
They didn't bother replying to the small claims court and now it looks as though they are to ignore the Judgment which gives them until the end of the month to settle.
(However, as it is a bank holiday weekend, I am very unlikely to receive cleared funds by month end)
A friend has suggested to bypass bailiffs, warrants etc and to just serve onto them a Statutory Demand (Insolvency Act) which gives them just 21 days to pay or face having their business face a Winding Up Order.
No really, they could argue it is an abuse of process and this could work against you. Also, if you did force them into a situation whereby they ceased trading, the chances of you being on the preferential creditors list would be nil, so all you'd be doing is throwing away money to give it to someone else!
Because the creditor has not taken action to enforce the judgement already obtained. A winding-up order is a different action, and achieves different results. I've known judges to disallow an action for winding-up telling the pursuer to seek legal advice on how to recover his money.
However, it seems to be a remedy that is available in law, so why not use it?
It is they who are ignoring the law after all, surely?:-?
It's cutting off your nose to spite your face. They do have time to pay after losing, only then is further action warranted, and this would be to enforce the judgement already awarded. Winding up works against you, unless you weren't bothered about being paid in the first place!
Because the creditor has not taken action to enforce the judgement already obtained. A winding-up order is a different action, and achieves different results. I've known judges to disallow an action for winding-up telling the pursuer to seek legal advice on how to recover his money.
aha! got you. thanks for the info. so if i'm correct, due to this one going down the money judgement route the correct method of action should be enforcement. if the bankruptcy avenue was investigated from the off it would have been ok to do it?
if the bankruptcy avenue was investigated from the off it would have been ok to do it?
Absolutely! It's a good way of brining your grievance to the attention of the directors but if the company is teetering, then you could be doing them a favour, which is the last thing you'd want to do!
You could try issuing a warrant of execution for the minimum fee allowed. If its successful you then issue another from the proceeds of the first one and continue until you get the lot.
This way limits your cost if the warrant fails.
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Advice given is purely my opinion, and is not based on any legal training.
Trouble is this has taken since last October and they have been obstinate right the way through-and all I have now is a default Judgment-which really means jack.
I've just had enough and if I'm not getting any cash then I'll apply to put them out of business.
At least some satisfaction.
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Sorry, but I cannot deal with your case by PM - please ask questions in your own thread. If you do not get a reply within 48 hours send a PM, with a link to the relevant thread, to any Site Team Member.
DO NOT SEND QUESTIONS ABOUT YOUR CLAIM TO ADMIN, or our WEBMASTER - YOU WILL NOT RECEIVE A REPLY.
Advice given is purely my opinion, and is not based on any legal training.
Because the creditor has not taken action to enforce the judgement already obtained. A winding-up order is a different action, and achieves different results. I've known judges to disallow an action for winding-up telling the pursuer to seek legal advice on how to recover his money.
I disagree, it is not an abuse of the process of the court to issue a statutory demand on a judgement debt as long as that debt is liquidated.
In effect, there is a minimum period to wait of 14 days after a judgement under 40.11
So, if the arrears are greater than 750, or it is a forthwith judgement for more than 750, this is a valid enforcement method.
Methods of enforcing judgments or orders
70.2
(1)
The relevant practice direction sets out methods of enforcing judgments or orders for the payment of money.
(2)
A judgment creditor may, except where an enactment, rule or practice direction provides otherwise –
(a)
use any method of enforcement which is available; and
(b)
use more than one method of enforcement, either at the same time or one after another
I think my friend was thinking that this company just play around with the small claims process but possible inslovency is a different matter-which may make them buck their ideas up.
With the small claims I have to go through getting a director to come to court, reveal the accounts etc, then further action...
It does appear that a Statutory Demand could be quite effective. At the very least it may shake them up a bit.
My friend is in business and he said he has given up on the small claims in trying to get his monies and always threatens bankruptcy for individuals & businesses and his results are spectacular with little time/money wasted, so he says.
Statutory Demand for non-payment of Judgment?
weekend, I am very unlikely to receive cleared funds by month end)
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Re: Statutory Demand for non-payment of Judgment?
Originally Posted by sequenci
but if the company is teetering, then you could be doing them a favour, which is the last thing you'd want to do!
