Empass Law acts for an overseas client on £3.75m refinance

Empass Law have recently acted for an overseas client on a £3.75m refinance consisting of 3 leasehold properties. All properties were situated in central London.

Empass Law have recently acted for an overseas client on a £3.75m refinance consisting of 3 leasehold properties. All properties were situated in central London.

Empass team had completed the transaction within the tight turnaround time of 5 weeks. The deal was complicated by the fact that the receivers were appointed and they threatened to initiate possession proceedings against our client.

Despite the legal complexities of the transaction, due to the receivership, Empass Law team were able to negotiate a favourable settlement with the receivers and ensured that the receivers waive off almost all of their own and their lawyers’ legal costs amounting to £150,000.

On the Empass Law team were Partners, Rohit Fogla and Abid Bokhari who led the transaction. The other parties to the deal were REIM Capital Ltd, who were represented by Lawrence Stephens Solicitors.

Rohit Fogla, Partner, commented “There were many challenges and complexities involved into this deal. We had to negotiate a favourable settlement with the receivers and ensure our client timely completes the refinance with REIM Capital. It was a real team effort to get this transaction completed. We were delighted to achieve a favourable result for our client.

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