Insolvent Contractor Claim

The Case

Contractual dispute on behalf of an insolvent contractor over final settlement of Engineering, Procurement, Construction and Installation work offshore.

Why It’s Significant

With funding, the insolvency practitioner was able to engage an experienced litigator and re-start the claim which had been stayed due to the bankruptcy. Court mediation was initiated and the claim was settled successfully.

Therium’s Solution

Therium’s funding of the bankruptcy estate gave the insolvency practitioner certainty that a full litigation process through all court instances was financially feasible, facilitating early settlement.