Retention of Title
Our knowledge and experience in the specialist area of Retention of Title issues is of great benefit to our clients. Recent court rulings have underlined the importance of a sound understanding of ROT in the Insolvency process. We are experts in this area and are instructed directly by both Insolvency Professionals and supplier clients.
When working on behalf of IP’s, we firstly analyse creditor claims in conjunction with the Administrator’s appointed legal representative and thereafter negotiate directly with the claimant in order to effect the most beneficial settlement. We liaise closely with the Administrator and his Lawyers during the negotiation process and no settlements are reached without their prior knowledge.
Working on behalf of claimants, we analyse the worthiness of their ROT claim, assist them making the claim and negotiate for an effective settlement thereafter. If required, we liaise directly with our legal representative on any issues and communicate this to the client in order to seek the most beneficial resolution.
a) Grace and Good Ltd were instructed by an Administrator client to assist with the many claims resulting from the Administration of a multi-site retailer. Our first task was to gather data in relation to the value of the stock in the business on the day of Administration. This was not an easy task as the computer systems were cut off at the same time and the data was unavailable. Luckily we had already taken our own back up of the stock data and were able to provide this to the Administrator.
Thereafter we assisted in the validation of all submitted claims. Working with both the Administrator and Insolvency Lawyer we successfully negotiated settlement with all claimants that included the identification and setting aside of stock where applicable.
b) A group of creditors of a large retailer that had entered administration instructed Grace and Good to represent their ROT claims which totalled in excess of £4m. The administrator swiftly accepted following our presentation that our clients’ retention of title both simple and all monies were incorporated into the trading relationship between the parties. Thereafter we maximized the return to our clients through skilful and direct negotiation with the Administrator. We subsequently learnt that we managed a return to our clients approaching 3 times more than any other claimant.
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