Why the client needed our help
Our client was a director and shareholder of a limited company facing a substantial liquidator claim relating to antecedent transactions (including transactions at undervalue, preference claims and an overdrawn directors’ loan account).
How we helped
The client required advice from us on the merits of the liquidator claims against him and assistance with defending them. There was very little prospect of success for the client if formal proceedings were issued based on the evidence available and so we also had to balance the client’s costs against this.
Notwithstanding the difficulties in this case, we were able to prepare robust defensive arguments on the client’s behalf. This put the client in the position to successfully negotiate an advantageous settlement, which equated to approximately 17% of the claim value (before factoring in what the client would have had to additionally pay in costs and interest had the claim been issued).
If there was ever a star rating for law firms, Francis Wilks & Jones would score five stars plus. Professional and pro-active, they were able to understand my problem quickly, provide expert advice, outline a solution and put it into place with a successful outcome. I should have gone to them sooner.A client we successfully defended in director disqualification and insolvency related proceedings