Savings of £2.15M with large Vulture Fund
High level of Corporate debt settled
- A most intelligent and astute business Client approached us regarding a large level of Corporate Debt, in the region of £2.3m, that he owed to a Vulture Fund.
- The borrowings were in his own, personal name and had been taken out with a locally based institution however had been sold on several times.
- The most current vulture fund, which we were instructed to liaise with, had proven ruthless in their actions and had instructed most reputable Solicitors to pursue our Client by way of vicious litigation.
- Our Client had defended the action against him ruthlessly to allow for self preservation and for protection of his family however there was no definitive conclusion in sight or light at the end of the tunnel.
- The situation was far from amicable, there had been a great breakdown in relationship and our Client feared the worst.
- Most difficult & pressing personal circumstances further enhanced the difficultly and strain for our Client in this instance
- After prompt instruction, we immediately came on record with both the subject lender and their instructed, legal professional.
- After several months, all litigation had been withdrawn and we had settled the debt with a full & final settlement payment of £150,000
-This resulted in savings of £2.15m for our Client