Threatened Financial Claims Brought by Liquidator

Having built a successful company and securing a contract with an internationally recognised organisation ('the Client'), things were very much progressing in an upwards motion. My company was trading profitably and working towards building a trusted and reliable brand in the marketspace.

Attributable to matters beyond my control, the Client terminated its contract without any notice. I was left in the unenvious position of having a successful company being reduced to nothing literally overnight. I was left with no option, but to seek independent insolvency advice eventually placing my company into Creditors Voluntary Liquidation ('CVL'). I was left shocked and upset at how things had quickly unravelled. This was exacerbated when the Liquidator then wrote to me making financial claims in excess of £60,000.00 plus interest plus legal costs. My emotions went from upset and anger to fear of financial proceedings being issued against me. I had never previously been involved or subject to any proceedings in my entire life.

I attempted to liaise with the Liquidator with a view to providing information, documentation and explaining why no financial claims should be pursued. It quickly became apparent I was not equipped to deal with matters. Gulshan Kumar ('Gulshan') was then recommended to me.

Having spoken to and providing Gulshan with a full background, he was able to reassure me as to the process, procedure and tactically of how to deal with matters with a view to hopefully bringing about a realistic and commercial settlement. Gulshan listened, formulated the relevant responses and liaised with the Liquidator as to the background and relevant facts in relation to the dispute.

The above approach brought about a settlement between the parties far less than the sum of £60,000.00 plus interest plus legal costs originally being pursued by the Liquidator. Attributable to working with Gulshan a commercial settlement was agreed without the issue of proceedings.

To say that I am relieved is an understatement. I am now able to focus all of my time, energy and funds on ensuring my new business enterprise is a success without the fear of financial proceedings being issued against me. I would not hesitate to contact Gulshan again and trust that we will work together in the future.