Case History – CAFL v PY

Background

CAFL are providers of asset finance. PY is a funeral director.

PY suffered a heart attack and was unable to work for a considerable period of time. PY instructed his PA to contact all creditors to inform them of his health problems and that it may take some time, but ultimately the creditors would all be paid.

CAFL repossessed PY’s hearse as they had financed it and the installments had ceased upon PY suffering his heart attack. The hearse was in pristine condition when repossessed. The hearse was moved by CAFL’s agent to a vehicle auction where it suffered damage to it’s bodywork thereby devaluing the vehicle. The hearse was subsequently sold’ leaving CAFL with a shortfall they expected PY to make up.

CAFL commenced bankruptcy proceedings against PY

Actions

ICL Commercial Law was instructed to assist PY in defending the bankruptcy proceedings.

Result

The bankruptcy proceedings were ceased.

ICL Commercial Law succeeded in obtaining a refund of £3,000 from CAFL