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
After the debtor refused to pay the amount demanded in our letter before action, we immediately drafted a winding up petition, issued it at court and served it on the debtor without delay.
The outcome / significance to the client
The debtor was in financial difficulty and unable to pay the debt due. As a result, they were wound up and a liquidator was appointed. As the debt was credit covered, our client’s client was able to recoup the value of the invoices from the insurer.