A client approached us following the sale of an investment property by LPA Receivers, which had resulted in a shortfall of approximately £155k of the original debt. The bank had also commenced legal action against our client and had applied for summary judgement for the shortfall amount.
Our review highlighted a number of potential concerns, enabling us to defeat the bank’s summary judgement application and subsequently negotiate a final settlement at £20k – a client saving of £135k or 87% of the original debt.
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