OFFSHORE ASSETS TRACED LEADING TO SETTLEMENT

Dec 7, 2019

The Directors of a UK company moved abroad after withdrawing c£500,000 from the company to repay the Directors' loan account leaving the other creditors unpaid.

The Directors of a UK company moved abroad after withdrawing c£500,000 from the company to repay the Directors' loan account leaving the other creditors unpaid. After the assignment of the claim Cavendish successfully traced the assets to the offshore location and using local agents served the Directors with a formal demand. This lead to a successful negotiated settlement in February 2019.