HomeCase studiesPrivate clientsAvoiding bankruptcy by settling a debt for a discounted sum

Why the client needed our help

Our client, a private individual, came to us with a bankruptcy petition against him due for hearing in a matter of days. He had arguments against liability which had not been raised following service of the statutory demand.

Our client did not want to be made bankrupt and wanted to settle the claim.

How we helped

We secured a lengthy adjournment of the hearing of the bankruptcy petition which gave us time to negotiate on behalf of our client to settle the debt for a discounted sum. We successfully raised both commercial and legal arguments to secure a favourable settlement.

The outcome

After lengthy negotiations, we were able to secure a full and final settlement for our client along with the dismissal of the bankruptcy petition. We also avoided any orders for legal costs against our client.

Key contacts

Sue Brumby

Sue Brumby

Partner

Lefteris Kallou

Lefteris Kallou

Associate

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