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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 4312
Experience:  English solicitor with over 12 years experience
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Hi I was a director off a limited company and as such signed

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Hi I was a director off a limited company and as such signed a personnel guarantee for the bank.the company was put into administration in 2012 by Santander and have recently issued a stat demand for my pg of 150k.

Whilst I acknowledge I signed the pg I have a big issue with Santander. Leading upto the administration they performed poorly in that delayed payments to suppliers, payments received were lost in the system and they put additional caveats on the invoice discount facility which impacted cash flow. These issues were so bad we presented Santander with an exit strategy and could of transferred both the invoice discount and the overdraft facility to another bank hence they could of mitigate their loses. Is this a viable argument to set aside the stat demand.

Thanks for the help
Submitted: 3 years ago.
Category: Law
Expert:  UKSolicitorJA replied 3 years ago.

UKSolicitorJA : Hello,
UKSolicitorJA : You may certainly apply to set aside the statutory demand within the 18 days period and the court will have the final say over whether or not there are valid grounds to set aside the demand.
Customer: Do you think I have a good case
UKSolicitorJA : It looks like it could go either way
UKSolicitorJA : 50:50 I would say
UKSolicitorJA : you should certainly make the application to set it aside and see if the court can be persuaded to set it aside
Customer: If it goes against me, does it automatically go to bankruptcy or can I still negotiate a settlement
UKSolicitorJA : It is not automatic bankruptcy, you may still try to negotiate with the bank
UKSolicitorJA : Can I assist further?
Customer: so I can apply to have it set aside, if this fails it's not automatic that I go down the bankruptcy but does it give the bank a stronger negotiation. I could probably afford 10k. There are three of us ex directors and the pg were joint and several on a 150k pg would you hazard a guess on what they would settle on
UKSolicitorJA : If the court feels there is a substantial dispute regarding the debt, then there is a good case for youhttp://www.gibsons-law.com/index.php/latest-legal-news/31-statutory-demands dis
UKSolicitorJA : http://www.gibsons-law.com/index.php/latest-legal-news/31-statutory-demands
UKSolicitorJA : i am afraid I cannot guess as I do not know what the facts are
UKSolicitorJA : That led to the 150k demand
UKSolicitorJA : if there are triable issues as you have raised, there is a good chance that it could be set aside
Customer: Currently going through old emails on the issues. To get an evidence pack. To go through the set aside what would you say we're typical legal costs
UKSolicitorJA : It could be a few hundred pounds
UKSolicitorJA : please take a second to rate the answer
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