Statutory Demand / Bussiness Glossary, S / By Dean Cheong Statutory Demand A formal demand for payment served on a debtor by a creditor, typically a precursor to initiating insolvency proceedings if the debt remains unpaid. Guardian Advisory - Singapore Insolvency Practitioner Your trusted partner in restructuring and liquidation services in Singapore. We provide restructuring advisory services and are approved liquidators in Singapore. TALK TO US TODAY!