A client found us on the internet a few weeks ago and asked us for advice. He was in a legal dispute with a customer and although the numbers involved were relatively modest, they were at a complete impasse with the customer insisting on 100% of the claim being paid. The client was convinced liquidation was the only answer left.
Having explained the liquidation process, we recommended the client offered the customer a sum equivalent to the cost of the liquidation in full and final settlement, which was a fraction of the overall claim. Common sense prevailed and the deal was eventually done with the need for liquidation averted.
This is a good opportunity to highlight the fact that if liquidation can be avoided, then we will always look at those options first.