Why the client needed our help
Our client, a leading bridging financier, contacted us shortly after its client failed to discharge a payment on or before its due date.
How we helped
We reviewed the facility and security documentation and swiftly made demand upon the client for the full outstanding balance owed. All rights were reserved in respect of ongoing costs. We considered all options available to our client including the ability to appoint a Law of Property Act Receiver and set these options out with a cost/benefit analysis and timescales involved in each for them to consider. We were instructed to seek a possession order at the earliest opportunity.
We successfully obtained a possession order which ensured a quick and formal handover of the property before securing a sale (for full market value) of the same. The bridging financier was paid out in full.