Our clients acted as joint administrators for a large furniture manufacturing company.
Background
Upon their appointment, and in accordance with their duties, our clients carried out investigations into the financial affairs of the company. The investigations led to our clients discovering that one of its customers was indebted to the company in the sum of £420,000.
The legal challenge
Our team meticulously analysed the data and evidence provided by the customer over the course of the lengthy dispute and argued that the documentary evidence provided to substantiate the basis for the retention was insignificant. As a consequence, we argued that the retention of the sums was unjust and unlawful, incapable of insolvency set-off, and ought to be repaid to the joint administrators.
We strongly and effectively negotiated with the debtors’ legal representatives which culminated in a six-figure settlement sum being agreed.
