Secured lender paid 100 cents in the dollar

We are proud to advise of a recent success in the office.

Lakshay Pahuja, is a key and valued member of our staff, Lakshay has been working tirelessly on a liquidation that required us to sell medical Lazer equipment, not an easy task due to the following:

• The possession and location of this equipment is subject to the Tasmania Health Act and Government approval is needed to move the equipment;
• Our landlord refused entry to take possession in any event;
• Lakshay’s great work got our firm and the landlord on the same page;
• The equipment released had to be locked down by a qualified technician;
• The premises we stored the equipment in also had to be approved;
• We had to find a buyer knowing that would be a mainland business;
• We had to consider the legislative requirements in NSW;
• We had to move the equipment to another safe location in order to safety test and show the items were fit for purpose;
• We had to arrange an independent report to prove the equipment was in proper working order and not leaking radiation;
• Sale to a new business had to be made by an intermediary holding funds in escrow; and
• Lakshay did a marvellous job in sorting the wheat from the chaff each step of the way and finding buyers.

Congratulations Lakshay your persistence paid off, not only did you sell the gear you got the secured lender paid out 100c in the dollar a fantastic result!