Cross Border Black Holes and Collections
September was a good month for Booroola (Jersey) Limited in dealing with some historic debts for our co-venturees.
Recoveries and monies flowing back to us from both Dubai and Kuala Lumpur. Grateful thanks to our colleagues in those countries Sivabalan Sankaran www.tsi.net.my and Cynthia Trench www.trenchlaw.com
We are aware that a number of clients have simply written off and taken no action at all in relation to debts due from Romanian nationals who have returned to Romania, others simply do not consider litigation there. We have recently had a call to research how things worked down there and we are glad to say that there have been numerous legal reforms, that there are English speaking lawyers there who report that the system works relatively well, additionally there are some apparently good suppliers of intelligence and related services down there who are also members of UK credited bodies.
We are looking forward to our first Romanian assignment.
