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Debt Recovery / Insolvency
Our Debt Recovery/Insolvency Practice is founded on real and actual debt recovery achieved for clients through various means from simple debt recovery actions and applications for summary judgment, foreclosure actions to Winding Up Proceedings, Receivership actions, Settlement and Workouts.
Our team is constantly innovative and has the ability to convert preemptive actions filed by obligors to successful debt recovery actions vide Counter-Claims or Motions for Judgment on Admission. Our steep understanding of Central Bank of Nigeria’s Regulations, securitisation documents and laws, Mortgages, Indemnities and Guarantees, documentary credit transactions, forms the basis of the pragmatic advice we render to creditors.
Members of our team have successfully obtained Orders of possession of mortgaged properties and debtors’ assets pursuant to legal mortgages and debentures and have successfully executed such Orders being very familiar with the Court Registry practice, and other logistics required for such executions. We do not only secure firm possession of debtor’s assets, we also ensure to keep such possession and preserve assets and (in Receivership or other appropriate cases) structure transactions around the sale of those assets unless the Court decides otherwise.