Tag: set aside statutory demand

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London Bankruptcy Petitions: The New £500,000 Threshold

Since 22 June 2026, a creditor’s bankruptcy petition against a debtor whose case belongs to the London Insolvency District must, in most cases, be presented to the County Court at Central London unless the debt is £500,000 or more, in which case it goes to the High Court. The dividing line used to be £50,000. The change moves cases between courts. The £5,000 minimum debt for bankruptcy and the 18 days you have to challenge a statutory demand stay exactly as they were.

Drelle v Servis-Terminal: Foreign Judgments & Bankruptcy

Drelle v Servis-Terminal: Foreign Judgments & Bankruptcy

The Supreme Court has settled a question that has troubled cross-border insolvency practitioners for years: whether a creditor can petition for bankruptcy using a foreign judgment that has never been through English recognition proceedings. Drelle v Servis-Terminal LLC [2026] UKSC 29 confirms they can, reshaping the options available to creditors holding judgments from Russia, the US, China and other non-treaty jurisdictions, while leaving debtors’ substantive defences firmly intact. Here’s what changed, and what it means for you.

Setting Aside a Statutory Demand as an Individual

You have just 18 days to challenge a statutory demand. Act fast, if you have a genuine dispute or legal defence, you may be able to stop bankruptcy proceedings. This succinct guide provides legal guidance from City of London’s specialist insolvency litigation team.