HomeCase studiesBanks & financial institutionsDebt recoveryHelping a secured lender to recover possession of a property

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.

The outcome

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.

I have had a decade long relationship with FWJ and have instructed them on a wide variety of claims, both litigation and insolvency based. I enjoy working with them as they listen to what I need and their advice is always commercial and astute. I have also been deeply impressed by their continued commitment to using technology to assist in the recoveries process. Their interactive case management system is particularly impressive delivering quick, accurate solutions together with very helpful case reporting

Risk Director Aldermore Bank

Key contacts

Mark Ovenell

Mark Ovenell

Senior Associate

Mike Lockton

Mike Lockton

Partner

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