Why the client needed our help
Our client, an invoice finance and factoring company, wanted legal help recovering a debt of £28,256 from a debtor in financial difficulty.
How we helped
The debtor refused to pay the amount demanded in our letter before action so we immediately drafted a winding up petition which was then issued at court and served on the debtor without delay.
As the debtor was unable to pay the debt due, they were wound up and a liquidator was appointed. However, because the debt was credit covered, we were able to recoup its full value from the insurer.