Out-of-court case study:
Client- A leading US global supplier of technology-based functional coatings and color solutions, which is publicly traded on the NYSE.
Situation- Client sold electronic materials to a customer in the Netherlands for an amount totaling around €400,000. The customer in the Netherlands was having difficulty paying because of liquidity problems.
Challenge- After the invoices were past due by 2- 5 months, the client decided to engage Bierens.
Solution – Client chose to work with Bierens because it specializes in B2B credit and collections throughout all of Europe – including the Netherlands.
Result- Bierens proceeded to file a bankruptcy procedure on three different occasions with the Dutch courts. As a result of the pressure, Bierens agreed to an installment plan of 16 payments collecting a total of € 437,801.02 from the Dutch customer. This process took approximately two years after the client engaged Bierens, effectively improving clients cash flow.
Judicial case study:
Client- A leading German tire supplier which is a specialist with one of the largest tire manufacturers in the world.
Situation- Client was doing business with a customer in the Netherlands for about two years when suddenly an invoice for around €30,000 was unpaid.
Challenge- The Dutch customer was unresponsive due to the differences in language and culture.
Solution – Client chose to engage Bierens because of its excellent reputation in Europe.
Result- The Dutch customer stated that the goods were damaged and felt they did not have to pay. The client along with its counsel, Bierens, litigated against the Dutch customer. While in court, the Dutch customer was unable to provide any evidence or photos to the judge that the goods were damaged. As a result, the judge ruled in favor of our German client. Shortly thereafter, the client received payment in full for €30,000.