Recovery of loan plus interest from Tanzanian company with English guarantor
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Business Law Solicitor - British Lawyer - U.K. Legal Advisor Re: Company / Corporate, Finance and Commercial Issues / Matters
London
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Bahawalpur
25054099495112741101846989215355623565332407718
Description
Experience Level: Expert
In 2014 made a loan to an educational establishment operated by a Tanzanian company in Dar-E-Salaam. They have only made one repayment to date. Loan is £20,000, interest to date £14,400 with one repayment of £994. The original agreement was made under UK law with a UK guarantor. Recently we made a new agreement which rolled the interest into the loan, revised the interest rates payable and changed the guarantor. However, the new guarantor failed to provide a provable list of assets so the agreement falls by the wayside (I think). I need legal assistance in returning the loan with the payable interest. I'm especially interested in a risk sharing arrangement with respect to costs.
Geoffrey B.
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13 May 2024
South Africa
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Hi, unfortunately, reading the narrative, you can effectively wave 'bye-bye' to this money.
728836
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