Fraudulent Loans in Administration
Asertis Ltd acquired a case in mid-January 2020 to fund the litigation to recover loans obtained fraudulently totalling £7m, in a company in Administration.
There were significant amounts of information and substantial pleadings to review. The case was complex, not without the usual litigation risks including costs exposure and tight deadlines to make an offer for a decision to be made.
It took just two weeks from initial review to the case being assigned and funded and with successful mediation held in May 2020, a substantial settlement was agreed.