LegalPay, India’s first and only third-party litigation funder, has provided litigation finance to ‘Just Deliveries’, a well-known logistic services company focusing on the F&B industry, to initiate arbitration proceedings and recover unpaid dues against Coffee Dynamics Private Limited (popularly known as ‘Coffee by Di Bella India’), a coffee company engaged in the business of operating cafes in Mumbai.
Di Bella has defaulted on the payment of multiple invoices to Just Deliveries. Just Deliveries is a leading logistic company that uses data-driven decision methodology, focussing on the logistics of small quantities of perishables, by providing an intra-city shared van solution, to the food & beverage industry.
In 2017, Coffee Dynamics engaged Just Deliveries to provide logistic services to Di Bella, for its cafes across Mumbai upon monthly payments. Despite the delay and default in payment of the unpaid invoices, Just Deliveries continued to diligently provide its services.
Di Bella has failed to make payment of the unpaid invoices despite receiving several reminders and requests from Just Deliveries. As per Just Deliveries, it is unfortunate to observe that Di Bella, being one of India’s leading coffee companies, has not been fulfilling its payment obligations. Just Deliveries, as a last resort, has initiated legal actions against Di Bella. “Just Deliveries approached LegalPay for financial support in initiating arbitration proceedings against Coffee by Di Bella and we have agreed to financially support Just Deliveries in its ongoing recovery proceedings against Coffee by Di Bella, till the very end,” said Kundan Shahi, Founder, LegalPay.
LegalPay is India’s only third-party litigation funder and interim financier. LegalPay provides non-recourse funding in commercial legal claims in exchange for a share in the final recovery, implying that the litigant only has to pay only upon a successful realization of the claim. LegalPay is a VC-backed start-up with support from prominent names such as 9Unicorns, LetsVenture, VentureCatalysts and Amity Innovation Incubator.
LegalPay has also emerged as a significant player in providing interim finance to companies that have entered into insolvency under the Insolvency and Bankruptcy Code, 2016. This finance is provided at market competitive interest rates with structures suiting the requirements of the resolution professionals.
