The Interim Receiver2018-08-17T09:58:01+00:00

Project Description

The Interim Receiver

The issue

Our private client had previously attempted to enforce his outstanding CCJ against a debtor, but with little success. The debtor was hiding assets out of the reach of traditional enforcement methods, or placing vehicles in third party names to avoid seizure. The debtor resided in rented property, but lived an affluent lifestyle, arising from his trading in high-end motor vehicles. Our client simply did not have the money to pay traditional legal costs; and so could not afford the access to justice he was entitled to.

The solution

Firstly, significant efforts were made by our back-office and enforcement teams to understand the likely asset position of the debtor. We offered our client a No Win No Fee agreement, so his liability for costs was completely covered. It was then time for some “out of the box” thinking; something our legal team is expert at. We knew that the debtor had a beneficial interest in at least 8 high value motor vehicles, but that they were registered in third party names to avoid enforcement.

A bankruptcy petition on the back of the unpaid CCJ was presented against the debtor, but, crucially, at the same time we applied to the Court for an Order appointing an Interim Receiver. This meant that the vehicles, and any other assets, could be immediately seized to avoid the likelihood of dissipation whilst waiting for a bankruptcy hearing. The Interim Receiver named, at our request, was one of the insolvency practitioners that we regularly work with. Upon the Order being made, our enforcement team immediately attended at the debtors’ residential address and forced entry; supported by officers from the local constabulary.

A diligent search of the address was made, and all keys, log books and paperwork relating to vehicles were seized. We then seized and removed 10 vehicles that were situated within the rear yard, garden & garage.

The result

The debtor opened up a line of communication following our execution of the Order, and the entire case was resolved prior to the bankruptcy hearing. All legal and enforcement costs were paid, together with the costs of the Interim Receiver; and our client obtained payment of his judgment debt. Our legal and enforcement teams worked seamlessly to achieve an outstanding result for a client who had nowhere else to turn, and who had already been told by another firm that he should write the debt off. From initial instruction to full conclusion within three weeks.

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