Swift Resolution: Protecting Financial Interests Through Strategic Legal Intervention

March 14, 2024

We were instructed on an urgent basis by a company in the business of financial services. The company was served with a statutory demand in respect of a disputed debt of approximately £100,000. The alleged debt set out as owed in the statutory demand, was genuinely disputed on substantial grounds and the company was solvent.

We advised the company as to the merits and demerits of their case. Within three business days of being instructed by the company, our team prepared an application, along with a detailed witness statement, for an injunction restraining the debtor from presenting a winding-up petition against the company.

Simultaneously, we engaged in correspondence with the debtor’s solicitors to robustly and clearly set out the company’s defence to the statutory demand. Following this, without prejudice negotiation correspondence ensued, and we managed to achieve a favourable settlement for the company, which was recorded in a settlement agreement.

The quick and tactical work of our expert team meant that the company’s business was protected, the costs and time associated with dealing with the injunction application and hearings were avoided and the company’s risk exposure was circumvented concerning possible costly future Part 7 proceedings, in respect to the debt.


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