The challenge
The situation
A medical supplies company was owed £101,576 by a UK pharmaceutical customer.
What we did
What happened
The customer's chief executive called us within a day of our first email. He agreed to clear the full balance, including statutory interest and recovery costs, at £20,000 a day. One payment arrived, then he went quiet, disputed the costs and said he'd only deal with our client.
With no full payment by the agreed deadline, the client instructed legal action. STA Legal, our sister firm of solicitors, drafted a statutory demand and had it served by a process server. The debtor then had 21 days to pay before a winding-up petition could follow.
The outcome
The result
Further payments had already followed our contact. Fifteen days after the statutory demand was served, the remaining £75,364 arrived. In total the customer paid £115,364: the debt plus £13,788 in interest and costs.
