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Recovery
The Problem:
Our client was owed over £10,000 from a husband and wife who ran a dairy business between them. The couple also owned their own property. The client attempted to recover the sums due to them but without success and instructed us to act on their behalf to recover the sums due.
The Solution:
We required to raise a Court Action against the couple and a Decree was obtained.
We ascertained the couple were property owners and thus arranged to have Letters of Inhibition registered in the event that they ever decided to sell their home or try and raise finance secured over the property. We also attempted bank arrestments but these proved to be unsuccessful.
When all other attempts to recover the sums due failed, we decided the only way forward was to Petition for their Sequestration. We liaised with an Insolvency Practitioner with whom we have a good working relationship and requested that the Insolvency Practitioner make contact with the couple and advise them of the steps we were in the process of taking.
At the same time we prepared the Petition to obtain a Warrant to Cite. This course of action proved fruitful as the couple were made aware how serious the matter was and promptly settled the sums due.
The Outcome:
In the circumstances the principal sum was recovered together with all our costs. The Insolvency Practitioners fee was also recovered.