Enforcement of Security
Your customer looked good for the money at the start of the loan but the last few months have shown a worrying pattern emerging. Is it time to make a move before every other creditor does? Is there sufficient scope for safely arguing a default under the facility letter? Where do you go from there, and which is the most effective remedy?
Each situation is different, and what may be a good route to pursue in respect of one customer might be the least effective way to preserve the lender’s position against a different customer.
We can advise on the variety of remedies available to a lender, and the lender’s ongoing duties if it takes over the running of the subject matter of the security. We will make you aware of the pros and cons of the alternative courses enabling you to come to the timely decision needed in all the circumstances.