Why the client needed our help
Our client had received a letter before action from a liquidator claiming in excess of £250,000 allegedly due and owing under a director’s loan account. In support of his claim, the liquidator alleged that the company had continued to trade while not viable and set out a long list of transactions allegedly being debts to the director’s loan account.
How we helped
We were able to demonstrate that there were legitimate reasons for the demise of the business and that a significant number of the transactions referred to were legitimate business expenses.
As a result of the detailed representations we made to the liquidator, we were able to negotiate a significant discount of the claim. This involved a favourable settlement of court proceedings issued against our client and the full and final settlement of all outstanding matters.