HOW WE CAN HELP – WORKING WITH INSOLVENCY PRACTITIONERS
Since the 2013 Jackson reforms, pursuing an insolvency claim has become costly, lengthy and risky to undertake. As a result, many insolvency practitioners reluctantly write-off good claims.
That’s why Escalate was created – a smarter way to resolve commercial and insolvency disputes that prioritises the returns available for creditors by focusing on a quick settlement, removing upfront costs and minimising risk.
Escalate takes a completely fresh approach. Once an initial review has been completed, Escalate utilises a two-stage process: a period of intensive negotiation through our specialist Escalate partners targeting a settlement in under three months; and then, if necessary, litigation using specialist legal teams that are funded all the way to the High Court.
By looking at the process from your perspective, we’re transforming how professionals like you are managing insolvency disputes.
Download our Insolvency Practitioners Brochure
NO RECOVERY, NOTHING TO PAY
If we can’t reach a settlement on your behalf, you don’t pay out. We also protect you from the other party’s costs with our built-in insurance policy
FIXED FEE UPON SUCCESS
Escalate works on a fixed fee basis – giving you complete transparency from the start.
MONEY BACK IN three MONTHS
The Escalate process targets your money back in just three months – to help your business with its cashflow. If we can’t settle quickly, we have the financial backing to support you all the way to a High Court resolution.
OLD AND NEW DISPUTES RESOLVED
We can revisit disputes that are up to three years old.
ALL TYPES OF SME DISPUTES COVERED
There’s no restrictions on the types of cases we tackle. Bad debt, contractual disputes, negligence, and IP infringement are just some of the cases we’ve previously worked on.
Parties are encouraged by the Courts to attempt to share full details of their claim and negotiate a settlement before beginning legal proceedings. However, there is no fixed time limit for negotiations to conclude and defendants are often incentivised to delay the outcome. Meanwhile your lawyers will typically bill you based on the amount of time they spend working for you, so the longer this period goes on, the more expensive it is for you.
No or low incentive for a quick solution
Potential for uncapped, hourly legal fees that you pay regardless of the outcome.
You’ll typically need to make a considerable upfront payment before you begin litigation to cover the Court fee for issuing the claim, as well as fees for the barrister and any expert witnesses you require. Legal fees, which are often calculated on the basis of the time spent on the case, will then need to be added. It’s not uncommon for the total of these bills to increase to the level of the damages that you’re claiming.
Typical 18-month duration
Considerable upfront payments
Potential for uncapped, hourly fees that you pay regardless of the outcome
You could be liable for the defendant’s costs as well as your own if you lose the case.
We begin negotiating on your behalf as soon as you engage to encourage the defendant to settle quickly in your favour, without the need for litigation. We allow up to a maximum of three months for this negotiation.
Experienced commercial negotiators
Incentives to settle within 90 days
Fixed fees that you don’t pay unless a successful settlement is reached.
If the defendant is unwilling to settle in this three-month timeframe, we immediately begin preparing for litigation. We’ll take care of this process for you, paying the upfront fees and associated costs all the way up to a High Court resolution.
No upfront court costs, counsel fees etc
Fixed fees that you don’t pay unless the case is successful
You don’t pay the defendant’s legal costs if you lose.
In addition, Escalate can help you with your duties under the Statement of Insolvency Practice (SIP2) – either by offering advice on the SIP2 report, or by preparing the report. We can also then pursue the recovery of any potential claims or monies owed.