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Company formations & business setup

Prevention may better than the cure, but that doesn’t help if you are owed money.

Nicholas Clayhills

If you want to take steps to claim or defend a claim for owing or unpaid monies, we can protect and guide you through this process.

BOOK AN APPOINTMENT WITH NICHOLAS
“When we bought our business in 2009, Nic Clayhills professionally guided the process to completion, there was no stone unturned. Four years later and Nic’s due diligence is invaluable. When we engaged Clayhills we didn’t understand that we would be forming one of our most important business relationships. Nic, over the years has successfully advised and represented us. I could not recommend Nic more highly”
If you are a secured lender with a loan agreement, security and your foot on some real estate, you are in a relatively good position to get most of your money back or a at least provide a commercial imperative to settle out of court with a good chunk of the debt paid back, maybe even with interest and costs if you are lucky.

But loans to friends, business trade debts and part completed consultancy gigs invite quarrel and an ability to not pay in direct proportion to the lack of documented loan agreement or Terms & Conditions (T&C’s).

Even worse is trading insolvently, which is basically not being able to pay your debts when they are due to be paid.

So, the earlier you act and the more you document in advance what you intend will happen, the greater you are protected. It is a kind of legal insurance.

If you are at the stage of defending or claiming a debt due, only then do we take steps to look at debt recovery enforcement litigation. If that’s the stage you are at, do not wait, contact your lawyer immediately as there is a timetable that runs in the background that will make decisions for you even if do nothing.

Common Disputes & Debt Recovery Questions
What about covering disputes & defaults in contracts?
Dispute resolution focuses on the current dispute or default, and aims at fixing the problem dispute as soon as possible. The resolution process usually escalates from inexpensive to complicated and costly: from party-to-party talks, through some form of mediation and finally to Court.
What happens on contract termination?
A well written contract, deals with finishing the agreement with a smooth exit and/or handover of services. The sudden termination by one party, often because of a breach or cash-flow problems, may be quite dramatic, because of the loss of a supply or service. The lesson here is to be prepared and draft the contract in anticipation of the unexpected.