How do we recover our debt

في Nigeria
آخر تحديث: Jan 8, 2025

Our neighbor in Kuje, market collected goods worth =4407500 on credit to pay as soon as he sold the goods(Highland tea). However, after selling the tea, he converted the proceeds to his other businesses. Since, February 2024, he paid only =N1300000, with =N3107500 outstanding. All efforts to get him paid up have not yielded any result. Please I need your assistance and/or advice. Thanks 

إجابات المحامين

Afe Babalola & Co. (Emmanuel Chambers)

Afe Babalola & Co. (Emmanuel Chambers)

Jan 8, 2025

This situation involves a breach of contract and possibly conversion (misuse of funds). Here's a step-by-step approach to resolve this issue legally:

1. Have a lawyer send a Formal Demand Letter
2. Initiate Legal Action (If No Response)
   . File a claim at the Magistrate or High Court (depending on jurisdiction and the claim amount).Request for a Writ of        Summons to compel payment.
3. Consider a Garnishee Order

If you can trace funds in his bank accounts or business accounts, seek a Garnishee Order to freeze and recover the money directly.

4. Attach Property or Inventory (Judgment Enforcement)

If he has assets (e.g., property or goods in his other businesses), you can request the court to attach and auction them to recover the debt.

5. Criminal Complaint (If Intentional Fraud)

If evidence suggests intentional fraud, file a petition with the police or the Economic and Financial Crimes Commission (EFCC) for investigation and possible prosecution.

Let me know if you need help drafting the demand letter or additional legal documents!

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منذ 2014
محامون 21
البنوك والتمويل الملكية الفكرية الطاقة والبيئة والحوكمة البيئية والاجتماعية +1 المزيد
منذ 2021
محامون 5
15 minutes مجاني
البنوك والتمويل الملكية الفكرية الطاقة والبيئة والحوكمة البيئية والاجتماعية +1 المزيد
منذ 2004
محامون 20
البنوك والتمويل حقوق الإنسان والمدنية الإفلاس والديون +1 المزيد

جميع المحامين محترفون معتمدون ومرخصون بسجل حافل مثبت