HomeCase studiesSMEs, directors & shareholdersDebt recoveryFully recovering a deed of covenant debt by acting swiftly and being persistent

Why the client needed our help

Our client, a management company, needed help recovering monies owed in respect of a deed of covenant. Under the covenant, the debtor was required to pay our client’s maintenance contributions towards a property but had failed to do so the past four years.

How we helped

We issued a 30-day letter of claim for the debt plus interest and legal costs incurred to date. After a lack of response from the debtor, a 14-day taking stock letter was promptly sent advising them that we had been instructed to issue proceedings failing further response.

The outcome

Payment in full was received within eight days from the date of the taking stock letter and no further action was required. Our swift response and persistence had ensured a successful outcome for the client.

Key contacts

Rachel Watkins

Rachel Watkins

Associate

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