A Weekend in Belgium

A banking client phoned and asked if we could help with the recovery of some bank property. They had lent money under a finance arrangement for the purchase to a gentleman who had then defaulted on the repayments. The bank ascertained that the debtor had then given the asset, a Winnebago, to his son who was a Motocross Rider and he had taken the vehicle out of the country. Therefore, there were two breaches of their arrangement and they wanted the vehicle back.  The bank found that the son was likely to be competing in an event in Belgium that weekend and could we help?

We telephoned the event organisors and they confirmed that the subject was riding that weekend, so we set about our plans. Two of our Franchise Owners packed their bags and went to Belgium. Their first task was to find the vehicle when they got to the venue. Unsurprisingly, there were 300+ Winnebagos at the venue and they could not identify the bank's asset. It transpired that both the decal and the plates had been changed. Therefore, they watched the racing and waited for the subject to finish his race and return to the vehicle. He wheeled his bikes into the back of it and then went inside. When we knew we had got our man, we knocked on the door and advised him why we were there and that we wanted the keys. 

At this point his father, the actual debtor, appeared and wanted to know what was happening. After much discussion the father disappeared for a few moments and then returned with an offer of cash to bring the account up to date. Although a Sunday, our banking client was available on the phone and, after discussing the proposition with them, they agreed to take the money on offer to bring the account up to date.