Case Study – Frivving Limited – v – UK Commercial Bank

A Property development and investment company with a portfolio in excess of £50m defaulted in servicing financial obligation including bridging loan caused primarily by problems in securing property planning permission.

 

As a result the lending bank had already advertised a significant chunk of property portfolio for disposal at auction. Instructing solicitors and sought Samuel’s legal assistance just within 3 days of the auction date. Upon being instructed and briefed Samuel was able to examine the corporate structure of the property development and investment company, the nature and terms of the lending finance agreement as well as the overall circumstances of the default.

 

He was then able to advise and articulate a legal solutions which was significant to persuade a judge in the High Court of Justice Chancery Division to issue an injunction restrain the disposal of the property assets by auction and withdrawing the same from the injunction.

Samuel ensured that a client’s investment property was not sold off at auction for an undervalue.

 

This was enough to convince a high court judge to grant a last minute injunction in order to remove the properties listing at auction and enable our clients to retain control of their property.

 

This was a multi-faceted case that had to draw on both Samuel’s commercial and construction expertise. It became necessary for the case strategy to evolve with the instructions. The brief started as a mere instruction to stop the sale of the property and ended with Samuel having to give advice and take instructions on the subsequent development of the property in question. For this reason, Samuel’s advice had to be holistic and meet the client’s commercial expectations.

Samuel Okoronkwo

FORWARD
THINKING BARRISTERS

Chambers was set up by barristers who believe that a different working model from the traditional English chambers is of greater benefit to our clients in today’s fast moving and digital economy.

 

Mercantile Barristers was established to cater for clients in today’s fast moving digital economy. We minimise the traditional practices and structures that keep the barrister detached from clients and have developed methods that give our clients and their professional advisers direct access to our legal expertise at their convenience.

UNIQUELY
FOCUSED EXPERIENCE

Our barristers are experienced in written and oral advocacy in a range of practice areas and their core skills are in identifying and presenting the central issues in a case whilst formulating creative profitable solutions for clients.

 

In contentious cases, our skills are deployed in examining, cross-examining witnesses and providing expert evidence. As such we are able to represent our client’s interests efficiently, advising tactfully and forcefully before any tribunal or court. Our primary focus is to ensure our legal advice is successful for all our clients cases.

FIRST-HAND
COMMERCIAL EXPERIENCE

Practitioners at Mercantile Barristers have decades of first-hand commercial, professional and legal practice experience. This means that we are often on the same wavelength with our clients on the practical issues causing their legal need and we are able to rapidly grasp the issues at stake.

 

Our barristers have committed their legal careers to understanding the client first before acting on the client’s instructions. We are dedicated to ensuring all clients receive honest & transparent legal advice in Chambers.

TESTIMONIALS

VALUE-ADDING APPROACH

Our approach to legal practice is always to articulate creative and value-adding solutions for clients whilst delivering timely, efficient and affordable professional services. All clients conduct their affairs within a legal context and Mercantile Barristers’ role is to advise on the conduct of their transactions and affairs in ways that avoid conflict and disputes.

 

However, should a dispute become inevitable, then our prior engagement would have assured that all the necessary precautions have been taken and mitigating steps adopted. Thus, clients will begin any dispute resolution in a strong position to achieve their desired objectives.

 

Whether by adjudication, arbitration, litigation, members at Mercantile Barristers will adopt a firm, swift and decisive approach to achieve the best possible results for clients within the shortest possible time. We recognise that no two cases are the same, so we will adapt our style to suit the occasion.

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