Partner Article

Fit or not fit to sue - is it worth it!

Are they fit to sue?

Raising a claim against an individual or company is quite straight forward these days. A claim can be submitted online and Judgment can be verified within 21 days - if not contested!

Are they fit to sue? Has due diligence been carried out? Moreover has a pre sue or asset report been instructed before submitting a claim?

We all know the saying don’t throw good money after bad, so why send the bailiffs in to recover nothing?

There are many reasons for obtaining a finically background report on a company or individual. This may be to verify if a company or person is in good financial standing. This may not be to verify if it’s fit to sue, but to verify if it’s financially viable to do business with.

What’s included? We quite often get asked what will be included within a report. Our reports will include a full understanding of a company from its incorporation date, through to the present date. Current and past Directors, financial standing, mortgages, loans, debentures and judgments. If the company is aware of litigation are they laundering funds and transferring them from the subject company to a newly incorporated entity to financially sink the company and make it none financially viable to go after. A good pre sue report should give the client the inside knowledge that they might not what you to know. In regards to an individual, we aim to verify their liquid and tangible assets. Salary bracket, property ownership judgments & debts.

Why use the bailiff? Wouldn’t it be easier to know who a company Banks with so that a “Freezing Order” can be served, than dealing with bailiffs?

The main issues with a pre sue / asset report is knowing the information within it has been lawfully obtained and is sub miscible in court. As Experts we have the skill and knowledge to know where to obtain the information from, at the same time providing transparency and producing ethical results.

Are they what they say they are? A background report will give you a good understanding on a company or individual. I have just completed a report on a “Banker” who is not a “Banker”. He has 5 former companies all correctly worded to look like financial global companies, but all traded for less than 18 months with a grand financial status of Zero !

How many people have been involved with “Boiler House” frauds and could have saved themselves their life saving if they had done due diligence - quite a few.

Who instructs these reports? we mainly act for law firms and insurance companies, but basically anyone can instruct a report. Thus placing you at an advantage not only knowing what they want you to know, but what they hope you don’t know!

John Moses

Director

Longmere Consultants

This was posted in Bdaily's Members' News section by Longmere Consultants .