Large financial exposure is not uncommon in the mining and resources sector.
Providing specialist representation for an equipment finance company, we were approached to recover a $2.7-million debt from operator of a Western Australian coal mine.
This equipment was being used to generate revenue for the debtor and we developed our strategy accordingly. Following swift implementation, the strategy triggered the mine operator’s parallel rights to stand down the fleet while legal recovery action was being pursued.
This strategy forced mining operations to cease pending resolution of the dispute.
Within just seven days of receiving instructions, we had recovered the full $2.7 million payment, as well as legal costs.
This is one of many examples of how a clear strategy utilising specialist expertise will always produce the best possible results.