Breach Of Contract Claim

The liquidators of an engineering company identified a potential breach of contract claim worth up to £50,000.  The claim was complicated and relied heavily on expert evidence.  The liquidators had therefore intended to drop the claim as the costs of running it were deemed to be prohibitive and disproportionate.  Instead, we purchased the claim for a nominal sum but on the basis that we would share the proceeds of any successful outcome with the insolvent estate.  

The insolvent company was engaged in the supply and installation of plumbing, heating, cooling and ventilation systems and engaged a sub-contractor to provide certain technical services in connection with a project.  The services were not provided to the standards specified in the contract and caused certain components to fail.  

Upon assignment H&J invested time and resource in developing the case and identified that the loss and damage suffered by the company was in fact greater than previously anticipated and totalled approximately £200,000.    

H&J managed to negotiate a settlement of £180,000 plus costs - enabling a substantially increased returns for creditors.