Construction Company
The Directors of our client, a well-established construction company, approached ReSolve following the insolvency of their business and the resultant demands from a variety of lenders against personal guarantees.
The Directors were firmly of the opinion that collections under the debtors’ ledger should have been sufficient to repay the lenders in full, thereby negating the need for any payment under the guarantees.
Working with the directors, ReSolve acted quickly to acquire the debtors’ ledger from the incumbent lenders and set about pursuing the outstanding debts.
In conjunction with the directors, ReSolve was successful in making recoveries from the ledger, resulting in the directors being released from all obligations under the guarantees and, in fact, being paid a ‘success bonus’ for their assistance in the collection process.