Our Insolvency Litigation Specialists Reduce Insolvency Claim by £117,500 in Apparent Lost Cause – Client Testimonial
This testimonial is from a client who was threatened recently with an insolvency claim of over £150,000, which our insolvency litigation specialists were able to reduce to a manageable £32,500 – a reduction of £117,500. The client came to us in distress having been advised by another firm of solicitors that, if contested, defeat was a certainty and that he should settle the claim in full.
The Client was ‘Overjoyed’ with the Result we Achieved
Our team was headed up by Neil Davies and Suky Mann, both of whom have significant experience in defending clients against insolvency claims from liquidators, which can often be eye-wateringly high, causing significant stress.
“Dear Suky and Neil, I wanted to send you an email to thank you both for your work and a great result. The whole family are overjoyed, and a massive weight has been lifted from everyone’s shoulders.
I work with solicitors day in day out for my business and genuinely, they don’t fill me with confidence anymore, until now. You have both shown great empathy and unique knowledge in this case and it comes as no surprise the accolades you have won.”
We are Pleased that our Client has Referred us to His Accountants
The best measure of a happy client, apart from getting the right result, of course, is when the client goes on to refer us to his business connections, as in this case.
“I have already referred your firm to my accountant who has passed it on to one of his clients. My new-born son was born a few weeks ago, so I am going to enjoy him and the outcome of this liquidation issue……”
The Details of This Insolvency Claim
The Liquidator was pursuing our client (the former directors and shareholders of a family run business) for sums in excess of £150,000 in respect of alleged overdrawn directors loan accounts and loans to shareholders.
Another Firm of Solicitors had Advised that Defeat was a Certainty
The family had previously instructed another firm of solicitors to represent them and were advised that due to previous admissions of liability (made at a time when the family was not legally represented), defeat was a certainty. With exorbitant interest rates increasing the amount claimed by the day and aggressive tactics being deployed by the Liquidator’s solicitors, the family were on the verge on admitting defeat and submitting to the claim in its entirety.
We were Able to Prove the Liquidator’s Insolvency Claim was Seriously Flawed
As a last resort, the family sought a second opinion from the insolvency liquidation specialists here at NDP. Our approach is always to only judge each case following a detailed investigation of the facts. In this case, it quickly became apparent that despite the previous admission of liability, the Liquidator’s claim was seriously flawed. Having robustly evidenced those weaknesses, NDP were able to negotiate a reduced settlement of £32,500. This represented a saving of c. £117,500, a result that the clients were absolutely delighted with.
No Hole Too Deep for Our Insolvency Litigation Specialists to Make a Difference
At NDP, this is our mantra. We have great experience in defending clients who are facing insolvency claims from liquidators. Click here to see some more testimonials. If you are facing an insolvency claim from a liquidator, then please call us on 0121 200 7040 or contact us to arrange a free initial chat.