Creditors
If you are a company in the unfortunate position of having one of your customers default on a payment, Turnaround Crowd is able to help by purchasing the claim from you.
Companies often sell claims for a number of reasons such as:
- Receiving cash upfront by selling helps to alleviate liquidity/cashflow pressures caused by a customer default
- Removes any sensitivity to the recoveries an administrator/liquidator is able to achieve from the insolvency estate
- Reduces time allocated towards having to follow and monitor a particular insolvency proceeding
If you are interested in pursuing a claim sale please Contact Us
Some of the recent feedback we have received from clients is given below:
“It has been a very ‘good’ experience…I am more than pleased with your service. Money received already!” – Jan 2017
“Turnaround Crowd contacted us offering a service that personally I had not come across before…On our Board approval Turnaround Crowd completed the documentation without delays and on acceptance of the assignment by the Administrator the funds were in our bank account within 12 hours. I found Turnaround Crowd to be thoroughly professional and courteous at all times” – Jan 2017
“A quick and simple process, great communication!” – Feb 2017
“I was very pleased with the speed and efficiency of the service and would happily recommend to others” – Feb 2017
“After on one of our clients went into administration we were given the contact details for Turnaround Crowd Ltd to see if they were in a position to purchase our claim. They were professional from the start and from doing their due diligence to us receiving payment only took around 5-6 weeks. They did every thing they said they would and we feel they offered a fair price for our claim – all in all a very positive experience” – Jul 2017
Disclaimer: Any offer to purchase claims made by Turnaround Crowd Limited (“Company”) is indicative up until a formal Claims Purchase Agreement has been signed by both parties. The Company requires each party to any potential transaction (“Transaction”) to acknowledge to the other party that it (a) is a sophisticated seller or buyer (as the case may be) with respect to the Transaction, (b) has such information as it deems appropriate under the circumstances (however obtained), concerning the business and financial condition of the Debtor to make an informed decision regarding the sale and purchase of the Claim (c) has made its own independent analysis and decision to enter into the Transaction based on such information as it has deemed appropriate under the circumstances, which may include information available to the holders of other debt issued by the Debtor and without reliance on the other party except for reliance on an express representation in any future agreement made by the party possessing such information (d) is able to bear the risks associated with the Transaction, and (e) is dealing with the counterparty on a professional arms-length basis and understands the terms of this Agreement and/or has sought and obtained appropriate legal advice with respect to this Agreement. Recoveries may be higher or lower than the amount offered by the Company to purchase a claim and any party to a Transaction should not rely upon any representation regarding recoveries from the Company. The Company is not an advisor and any party to a Transaction should take their own legal and taxation advice before entering into any Transaction with the Company