Recovery of Debts via the Commercial Court
14 April 2021
Debt Recovery & Insolvency
Even at the best of times credit control or debt recovery processes are crucial aspects of any successful business. In the current economic climate knowing how to use the Courts effectively to aid those processes is more essential than ever in protecting cash-flow.
Notwithstanding the inevitable restrictions caused by the current pandemic, one active option still open to Creditors is to proceed via the Civil Courts to obtain a Judgement or Court Order and then seek to enforce that via the Enforcement of Judgments Office. For commercial cases above £30,000.00 in value, which includes most debt cases, these can be taken in the Commercial Court in the High Court of Justice.
The purpose of this specialised Court is to expedite the progression of commercial actions. Cases are included in the Commercial List at the direction of the Judiciary. On inclusion, the Commercial Judge issues a set of directions and then further sits at regular intervals to progress the case management of the litigation. The result of this is to streamline commercial actions, avoid unnecessary delay and ensure that commercial court users, and the business community as a whole, receive an optimum service.
The Commercial List is an attractive forum for the efficient disposal of disputes arising out of business transactions. Commercial litigation can be lengthy, complex and requires the use of various experts. The Commercial Court by its nature holds an appreciation of the spectrum of commercial litigation and can thus offer prompt understanding and effective remedies. Further, the Commercial Court has issued practice directions and a pre-action in order to aid the carriage of commercial cases.
In uncertain times the commencement of legal proceedings can be the best way of obtaining security of your debt and significantly improving your chances of recovery.
MKB Law will advise on each individual debt to ensure that the most practical method of recovery is used for the particular debt.
Please contact our Debt Recovery & Insolvency department who will be happy to discuss the processes available in general or how to recover any specific debts owed to you.