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.
WHAT I DID
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 RESULT – FAIR AND REALISTIC SETTLEMENT ACHIEVED
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.