We were originally born, raised and educated in India. We moved to the United Kingdom (‘UK’) in order to expand our knowledge, expertise and work in the financial, banking, regulatory and security information technology sector. Attributable to our hard work, reputation gained in industry and our level of expertise, we are regularly retained by some of the world’s largest international companies to work on projects often worth millions of dollars or pounds.

Despite working with market leaders we had always wanted to own our own business, pursue and build upon an idea that had the potential to revolutionise the rewards points sector individuals received on a mass scale. We spent substantive time, personal investment and expertise in developing the product, software and technology platform for the new application. The application gained great traction, won awards and was on the cusp of securing a highly lucrative contract within the aviation industry.

Why the Company Failed

All the hard work and determination to develop the product was literally undone overnight attributable to the outbreak of the Covid-19 Pandemic (‘C19’). Our world was turned upside down through no fault of our own and the company was subsequently placed into liquidation.

Significant Insolvency Claims Brought Against Us

Still reeling from the devastation of C19, we then received notice from a Litigation Funder (who had purchased the alleged claims against us from the Liquidator of the company) that they were pursuing financial claims against us in the sum of £700,000.00 plus interest plus legal costs pursuant to alleged breaches of:-

  • Section 172 of the Companies Act 2006 – Duty to Promote the Success of the Company.
  • Section 173 of the Companies Act 2006 - Duty to Exercise Independent Judgment.
  • Section 174 of the Companies Act 2006 – Duty to exercise Reasonable Care, Skill and Judgment.
  • Section 197 of the Companies Act 2006 – Loans to Directors – Requirement of Members Approval.

What We Did

We immediately knew that we did not have the requisite knowledge, experience or skill to deal with this matter. We therefore carried out research and came across Mr Gulshan Kumar (‘Mr Kumar’). Mr Kumar quickly put us at ease, explained the process to us and discussed potential tactics of how to bring the matter to a swift resolution. To include negotiating, agreeing upon a commercial, realistic and affordable settlement, if necessary.

The Result – a Realistic and More Importantly an Affordable Settlement Achieved

Gulshan assisted us in every aspect of the process. To include engaging, writing to and defending our position as far as the facts and the law enabled us to do so. This included, Gulshan attending mediation with us that that assisted in and brought about a much reduced settlement sum substantially less than the £700,000.00 plus interest plus legal costs being pursued against us at the outset.

Gulshan assisting in bringing about that vastly reduced settlement has brought about peace of mind, certainty to us, our families and most importantly given us an opportunity to regroup, rebuild, and rise from the ashes. This entire process has been difficult, draining and at times extremely emotional for both of us. However, having Gulshan on board has greatly assisted in what has been an extremely difficult time for us. Thank you Gulshan!