Statutory Demands - chasing debts in a foreign currency

There is nothing stopping a creditor chasing a debt in a foreign currency and using a statutory demand to do so. But you have to question why the creditor could not simply convert the debt in to sterling and proceed in that basis. Stating the sterling equivalent of the debt (as well as the foreign currency value) would make it less open to some form of challenge and bluntly make it easier for the debtor to pay – assuming it is used to dealing in Sterling. Otherwise issues might arise as a result of the debtor taking advantage of the wrong exchange rate etc.

Contact an expert lawyer for statutory demand advice

Our team at Francis Wilks & Jones is one of the leading law firms in the country dealing with statutory demands cases. We have enormous experience across our team meaning that we can deal with any type of statutory demand issue – whether you are a creditor or a debtor. We offer fast and effective statutory demand advice for all new clients. Call now for a friendly consultation.