Stephensons successfully represented a claimant in a High Court dispute concerning substantial funds advanced to family members to assist with the purchase of a residential property. The claimant maintained that the monies had been provided as loans and that a significant balance remained unpaid despite repeated requests for repayment.
The defendants accepted that financial assistance had been provided but disputed both the value of the loan and the terms of repayment. They argued that part of the money related to other financial arrangements and that any outstanding loan should continue to be repaid by monthly instalments.
The claim sought recovery of the outstanding balance together with interest, supported by extensive documentary evidence demonstrating the nature and purpose of the payments.
Led by specialist commercial litigation solicitor Jade Fairhurst of Stephensons, the matter progressed through litigation and ultimately reached mediation. Following negotiations, Stephensons secured a favourable settlement for the claimant, with the defendants agreeing to pay a six-figure sum in full and final settlement of the proceedings enabling the claimant to achieve a substantial financial recovery without the cost, delay and uncertainty of a final trial.