A company that fails to apply to set aside a statutory demand within the prescribed period cannot circumvent s 459S by characterising the alleged defects (including that the specified debt is not due and payable) as rendering the demand a nullity. A solicitor may sign a statutory demand in the solicitor's firm or business name and this satisfies the requirement in s 459E(2)(f) that the demand be signed by or on behalf of the creditor. To rebut the presumption of insolvency, the company must present the 'fullest and best' evidence of its financial position; unaudited accounts, bald assertions, and evidence from non-independent or unqualified persons will not suffice.
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