05 September 2016
Client secures payment from sibling after selling family owned property business
"After our client sold her entire shareholding in the business, her sibling was due to make a final payment to her as deferred consideration. However, despite independent accountants confirming that the deferred consideration was due and owing, the payment was still withheld and a claim was issued at court."
Several allegations were made as part of the defence to the claim, all of which were easily rejected by B P Collins’ team of lawyers.
Before the case made it to a final trial, the team at B P Collins was able to convince the court that the sibling’s defence ought to be struck out as having no prospect of success, ensuring not only a huge cost saving for the client, but also a swift payment of the debt (by then including interest and litigation costs) in full.