
Debt Recovery And Insolvency
We work with creditors in conducting due diligence on potential borrowers; as well as the enforcement of rights of creditors in all cases of default and actual recovery of debt.
We assist clients to assess their, strength in bankruptcy proceedings and formulate solutions including refinancing or renegotiation of existing debts.
We pride ourselves with the successes we have achieved in the insolvency area of our practice. Our partners are well drilled in insolvency practice and have been involved in several debt recovery cases for some of the major commercial banks and other companies in Nigeria. Usually, first we review the loan documentation issued to us, and subsequently advise clients on the best strategy for recovering relevant bad debts, within the framework of the law. We have a clear strategy of working within the framework of the law, in enforcing the various rights of our clients as encapsulated in security instruments and other loan agreements.
Our approach is to explore any of the relevant Alternative Dispute Resolution mechanisms suitable for each case, and where the debtor is unyielding to such approach, we immediately approach the relevant courts of the land, by way of Undefended List Procedure, Summary Judgment Proceedings or Default Summons Proceedings for such liquidated money demands.
It bears mentioning that at times, we also engage the Law Enforcement Agencies, particularly where there are perceived financial improprieties and if we strongly believe that a financial crime may have been committed.