Case Studies...

Job name : Centillion Holdings Limited in receivership

Law Debt Collection Limited were contacted by a chartered accountant to assist in the collection of assets owing to a company that had been placed into receivership. the company sold wood burning fires, the company had a client base of more than 700 debtors.

Law Debt Collection Limited obtained from the receiver, the debtor ledger with the last three months of statements and invoices, it was pointed out the some of the debtors held stock on consignment and it was not thought prudent to recall all the consignment stock back to Auckland due to the cost of freight.

Law Debt Collection Limited then contacted all the existing debtors and made demand for the amounts outstanding to the company in receivership and began making arrangement to recover the funds.

At the same time we confirmed the consignment stock that was around the country, and made calls to all the existing client to see if we were able to take orders, the orders came in thick and fast, and all the stock that was around the country was sold and shipped to other customers, the cost savings in this exercise to the receiver were in the thousands.

All the debtors were paid within a period of two months and the stock that was already being shipped back to the company prior to our appointment was sold by the receiver to the new owner of the company.

Law Debt Collection Limited resources used;

• collection procedures
• sales and marketing
• storage
• administration

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