fbpx

Corporate debt settlement – Savings of £1.8m on the shortfall thereafter.

-A Client, whose primary business was in Residential Care, approached our offices seeking advice regarding pursuit by an investment giant for an amount owing of c£4.7m

-His loans had been sold on by the original Banking Institution and our Client feared that he would lose his business entirely.

-Our Client’s profession, by its very nature, was most sensitive and thus there was also the great concern that any Receivership appointment/aggressive action by the subject fund would have noteworthy ramifications on both the residents and their families who were already considered most vulnerable and dependent.

-Re-finance had been pro-actively sought out from alternative lenders with a view to seeking to resolve matters once and for all

-Due to the significant drop in the property market however, our Client could not raise close to enough to settle the debt in full

-After dedicated, detailed and substantiated negotiations, we managed to agree re-finance as well as full & final settlement at a total amount of £2.9m

This meant that our Client retained all that was important, experienced savings of £1.8m and was facilitating a significantly reduced level of debt with an alternative lender whose terms were more than feasible.

Rising Risk | P2P Finance News Interview

Our Chairman, Terry Bell, talks to Marc Shoffman, a Journalist who writes for P2P Finance News https://www.p2pfinancenews.co.uk/2020/07/03/rising-risks/ about the...

LIMITED COMPANY FAILING? – EXPOSURE?

Before we start this blog on ‘Limited Company Failing – What’s my personal Exposure?’, we are pleased to announce...

Are Directors personally liable for company debts?

Directors Personal Guarantee Are Directors personally liable for company debts? To begin with, at the height of the business...

Back to News