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Alex J.
Alex J., Litigator
Category: UK Law
Satisfied Customers: 3671
Experience:  LLB, LPC, DELF
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I started a legal case against a former Director for non repayment

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I started a legal case against a former Director for non repayment of a loan. I was dealing with his legal representative up until I received a letter from him to say that he was now representing himself and he asked me could I stay any further action until we had spoken to see if we can find a resolution.

What options are available to me to put the current proceedings on hold ? What options are available to me ?
Hi

Thank you.

You can write to the court and stay the proceedings while you and the other party conduct settlement negotiations.

If he is going to ask for time to repay I would only agree to this if he gives you security for the loan for example a charge on his house.

Does he have any assets?

I look forward to hearing from you.

Kind regards

AJ
Customer: replied 4 years ago.

Dear AJ,


 


Thanks, XXXXX XXXXX stay an action, how long does it last for ? does the statute of limitations still apply to a stayed action

Hi

Thank you.

If you have issued proceedings and done so within the limitation period then there won't be a problem.

You can stay the proceedings for as long as you think you will need to negotiate a settlement.
Once a settlement is agreed you will sign a settlement agreement which will I'm affect create a new obligation so the limitation period will start from the beginning.

I look forward to hearing from you.

Kind regards

AJ
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