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Debt Recovery

1st December, 2014

Facts:

  1. Our client’s business underwent significant losses in 2013. As a result, the company incurred significant debts.
  2. The easiest option would have been for the company to wind itself up, however, the company has a cause of action against another entity which, if successful is worth more than $250,000.
  3. In order to preserve the cause of action and to ensure the company is not wound up, we have been negotiating with creditors and have successfully managed to ensure the company is not wound up.
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