Court order to pay costs

goewar

I recently lost a high court case to my former employer, after 3 failed MBO's i resigned to start up on my own, prior to me leaving I spoke wiht another member of teh MBO about setting up in business, but the fact that I was a director( Non share holder) I was breaking my fiducery duties and should of informed my employer. I have now been order to pay there legal fees of around £270,000 plus vat. There legal fees are very excessive, born out by their Barrister running the whole show, with a team of lawyers, therefore they will start proceedings to take my half of the family home, valued at around £370,000 and force me into bankruptcy. Anyone have any solutions on how to stop this. Oh by the way, they also have had an injuction in place from last September until the end of June this year! so I have not been able to remortgage.

flo5

Hi goewar,

Sorry I do not have any answer for you, just wanted to wish you luck having been the victim of a firm of solictors.

There are a lot of people on this board who will guide you on what action to take.

Hope it works out for you

JCS1

Please speak to a solicitor - maybe one that does a free one hour consultation? You could also try one of the free debt charities though I suspect your case might be quite specialised.

Sadly, I can't think of anything else to help. Legally they can pursue you for the costs. How much equity is there in the property?

goewar

Thanks for your help, I am seeing my MP this week, but I am not holding out for any help there!

goewar

Looking at the schedule of costs that my former company would like me to pay, there is a section called Profit costs with a nice will sum of £150,000 plus VAt of £22,500. Is this normal for solictors to award themselves a profit bonus?