A European company faced USD $150,000 in losses and was considering arbitration proceedings against its defaulted China-based partner, but was concerned about “throwing good money after bad”.
How we solved it:
LSR identified the counter-party’s registration details and discovered it had been suffering from financial difficulties for some time. The investigation led to undertaking a site visit to a vacant, residential address and all utilities having been disconnected. Interviews with suppliers indicated that the company had not made any new orders for many months and the owners had moved to another province.
The unique LSR “time-out” service updated the client of the situation midway through the budget and LSR charged two thirds of its budgeted fees, reflecting the early resolution.
Time-out, 2/3rd Phone Call, Corporate Research, Site Visit, Pre-litigation, China, Europe