When running a business, trust is paramount.
Unfortunately, our clients found out the hard way that a director in their company had been misusing company funds to the tune of $2.5 million for his own personal gain and to benefit his private entities.
Time is of the Essence
When dealing with cases of financial misconduct, time is of the essence. We swiftly obtained freezing orders against the director personally and his shareholding entity which traded with his other businesses. This was essential in preventing assets from being dissipated, leaving our clients (as creditors) with little to recover.
Once we had secured those assets, we turned our focus to recovering the funds that had been misappropriated.
The defendants did not have any good answer to their involvement in taking a portion of the funds, and we obtained judgment on admissions.
The matter resolved by us winding up the shareholding entity without the need for a trial.
It’s always satisfying when we can achieve legal recovery for our clients without having to resort to lengthy and expensive court battles.
