I would appreciate your support in this matter.
I've re-written the draft letter and I'm pretty happy with this.
So looking for a solicitor to send it and negotiate a settlement.
£X now and a percentage of the settlement, 4-5% for £10-20k, 3% for less.
I am keeping the 5% share holding to be kept separate as this is something that can cause them serious issues if they do not resolve it at some point. i.e. any future investment could be jeopardised with this not being resolved. Something I am sure they will be keen to avoid.
I can suggest a 5% payment of the final agreed amount, giving you some incentive to also play hard with their solicitors for the most as a final settlement, using the 5% to agree a figure as a sweetener to get a deal now not later.
I decided not to include any evidence, as this prevents them from knowing what evidence I do have, this, I feel also plays better to get them to agree a settlement now than risk this coming up again in 3 or 6 or 12 months when they are trying to close an investment round.
We act for Webleprechaun Limited. We are instructed by our clients to pursue a debt due by your company to Webleprechaun in respect of their invoice number [ details of invoice ].
We understand that you dispute liability to pay this invoice on the basis that there were no agreed hours in respect of the period of notice to which the invoice relates. Your contract with Webleprechaun provides that the payment in respect of the notice period is to be calculated in respect of hours invoiced in the previous period, and that is the basis on which the invoice has been raised.
You record that you are in breach of contract by failing to make payment. If the invoice has not been settled within 14 days of the date of this letter, we are instructed to raise proceedings against your company on behalf of Webleprechaun. In any such action, our clients will not restrict their claim to the invoiced amount, and will instead seek damages for breach of contract equivalent to the day rate for the full term of the contract estimated £50-100k.
Aside from this our client will seek enforcement, at a later date, of their agreement with you that you would transfer a 5% stake in your company to my client. However my client would be willing to discuss this during the 14 day period as part of a final settlement and therefore formally conclude all links between Udrafter, WebLeprechaun and Michael Haigney.
We look forward to you paying the outstanding invoice, avoiding a breach and receiving confirmation that payment has been made.
In the meantime, this letter is written without prejudice to our clients’ whole rights and pleas and is not be founded upon in any proceedings of any nature, before any forum, present or to follow hereon, save at the instance of our clients.