Archive for the ‘Uncategorized’ Category


Enforcing a judgment using the oral examination procedure

Picture this scenario – a debtor owes your business £10,000.00. All attempts to recover the debt fail and you instruct lawyers to recover via court proceedings. You spend money on the lawyers fees and court fees.

The debtor may or may not try to stretch out the process by filing a defence and thereafter utilising every delay or other tactic possible. Finally, you have a County Court Judgment for your £10,000.00 plus interest plus most of your legal costs and the court fees. You breathe a sigh of relief, you will now get your money.


Personal debt in the Uk through the £60 billion barrier

Interesting and rather worrying news about the level of personal debt in the UK can be found here and there’s no point in us simply regurgitating the figures.

However, it is worth noting that personal debt appears, according to the research to have risen by a huge £10 billion in the last year, and that nearly 50% of that debt is being sold rather than passed to debt collectors.


UK debt infographic

This excellent infographic, produced earlier this year, pretty much speaks for itself. We thought it was definitely worth posting.

UK Debt Crisis
[Via: Amazing facts about the UK debt crisis]
View Larger infographic along with the code to add this image to your own website.


FT reports that Local Authority tenant repossessions soaring

According to this recent article in the FT which in turn sources it’s data elsewhere there has been a big increase in the number of rent arrears possession claims and orders against Local Authority tenants this year. As you will note on reading the article there were some 17,000 evictions overall in the first quarter of 2010.

These situations are frankly a nightmare for Landlords. Many unwary landlords believe that if they have a local authority tenant, somehow the Council are responsible for paying the rent. This is not true. The contract is between landlord and tenant not the Landlord and the Local Authority.


Personal debt data

At Bluestone, we deal primarily with business debts for clients but we will consider any debt if the conditions are right.

As has been well publicised, the level of underlying debt in the UK economy, both personal and business is at unprecedented levels and this is of course relevant to the issue of whether to pursue a debt owed to you. If you are just in a long line of unsecured creditors, you may stand little chance of ultimately recovering your money. You may decide to take the initiative and go straight for the jugular, and start insolvency proceedings, but this will be expensive and may still not get you the result you need. In fact, Insolvency Practitioners we deal with regularly advise us that many of their clients are holding back from insolvency action against debtors because there is no point. They will wait until times are perhaps better and then make a decision at that stage.


Shared risk, no win no fee and funding litigation

Commercial litigation is an inherently risky business in the sense that the law is rarely if ever an “open and shut case”. Add to this the risk on costs of pursuing a case and the tactics involved, together with the issue of whether any settlement or judgment will result in financial recompense, it is clear that pursuing a case is not for the feint hearted.

With commercial disputes, clients are becoming increasingly aware of some new options for assessing risk and to the extent possible, to hedge that risk. With very high value cases, there is a fast growing market in litigation funding, where commercial investors may agree to fund the costs of the claim in return for a return on the investment in the vent of success. Clients are also looking to lawyers seeking instructions in multi-million dollar cases to also, to an extent “put their money where their mouth is” by also sharing some of the risk.


The best use of resources ?

Take this scenario – you are a creditor owed £10,000.00 by another business. You obviously want and need to get paid, and all attempts to obtain payment have fallen on deaf ears. You don’t know what to do, so consider going to see a solicitor, but you have doubts about this, as you’ve heard it will cost a lot of money.


The problem of debt of less than £5,000.00 in the small claims court

In the current difficult economic conditions a small business unpaid debt of £5,000.00 or less may often represent a major problem for that business.

With debts of less than £5,000.00 being classified as small claims for the purposes of the County Court system, the prospect of pursuing the debt through the court system is particularly difficult. Whilst the small claims system is more streamlined and less legalistic than cases which are not dealt with in the small claims court, we are still talking about law and using the courts.


Welcome to our blog

Good afternoon and welcome to the Bluestone ARM website blog. We will be adding topical information, links and content here on a regular basis and welcome comments from others, so please do contribute.