June 2017 Credit Management magazine

LEGAL MATTERS
"A MARVELLOUS AND
VALUABLE SERVICE"
The CICM Legal Helpine in association with Corporate Partner DWF
Helping members to navigate the ever changing legal and regulatory landscape.
DD 0113 261 6169 E david.scottow@dwf.law W www.dwf.law/recover
David Scottow FCICM
THE ever changing legal and regulatory
landscape for credit professionals can
sometimes be complex to navigate.
As CICM Corporate Legal Partner,
DWF offers 30 minutes of free advice to all
members through the ‘free advice line’ section
on the CICM website. Since launching this
service a year ago, we have advised members
on a range of legal, technical and general
issues relating to credit management and debt
recovery as well as a whole range of legal
issues affecting credit professionals.
A member who contacted the advice line
shared his experience:
“I would like to express our thanks for the
excellent support received from CICM and
David Scottow from DWF. In spite of having
strong and carefully drafted contracts in place,
I found the new owners of a business we
rescued reluctant to convert verbal promises
into bank transfers.
“David gave some very pertinent advice,
made some excellent suggestions and
provided an estimate of costs that were
more than reasonable. However, David was
right when he warned about thinking beyond
winning in court and assessing the likelihood
of recovering the cash, (a significant sum),
from the client company. This prompted
me to make further checks that revealed
a disreputable plan to gain credibility with
key customers, push the business into
administration and pre-pack it avoiding trade,
professional and HMRC debts. Clearly, David
was right; we'd be throwing good money after
bad.
“We have decided to avoid the traditional
routes to recovery and have prepared an
alternative administration and pre-pack plan
which is under assessment by the bank, who
are not happy to have been told “alternative
truths’’ by the new owners. We may still lose
our money but we now have a chance of
recovery and have protected our reputation
with the bank and their panel of advisers.
“Thanks again for a marvellous and
valuable service.’’
This member was advised by David
Scottow, Senior Director and National Head
of Recoveries at DWF.
David leads the recoveries team at DWF
and has more than 40 years’ experience
in debt litigation, insolvency and credit
management. Having previously worked for
other leading law firms and in High Court
enforcement and with industry experience as
a credit manager, he has valuable insight and
understanding into the issues faced by clients.
Experienced in the recovery of both volume
and niche consumer and commercial debt,
David has represented clients of all sizes from
sole traders and SME’s to local authorities,
blue chip companies, financial institutions,
utility companies and government bodies.
David’s co-directors are equally wellqualified:
Director Technical, James Perry,
is a solicitor with over ten years of postqualification
experience and is responsible
for all disputed, defended and contentious
matters. Alongside James, Kevin Feehan
specialises in pre-legal collections and civil
recovery while Neil Jinks is responsible for
client relationship management and business
development.
“The 45-strong recoveries team operates
nationally and internationally across all of
our offices. DWF’s increasing client base is
attracted by our unique approach to debt
recovery work. We work collaboratively with
clients utilising debt segmentation and debtor
profiling, applying sophisticated collections
techniques as well as strategic litigation
and enforcement, helping us to achieve the
desired results for our clients. Many years of
working closely with the credit community has
helped us to support a growing list of clients,
who often come to us through personal
recommendations. For some clients, we can
turn their legal spend into a cost neutral or
even a cost positive solution – a surprise to
many when we open up a new revenue stream
from something that is usually a drain on their
finances and other valuable resources. As a
Yorkshireman, cost is a subject very close
to my heart and I can reassure you that our
market research reveals our fees to be more
competitive than most with none of the hidden
extras that are applied by some providers.
“My team and I are passionate about
CICM, the credit profession and legal debt
recovery, so I hope you will find our support
and guidance helpful through our Corporate
Legal Partnership with CICM.”
For more information or to arrange a
meeting, please contact:
Neil Jinks FCICM Director
M +44(0)7740 179515 E neil.jinks@dwf.law
David Scottow FCICM Senior Director
T +44(0)113 2616169 E david.scottow@dwf.law
This information is intended as a general
discussion surrounding the topics covered and is
for guidance purposes only. It does not constitute
legal advice and should not be regarded as a
substitute for taking legal advice. DWF is not
responsible for any activity undertaken based on
this information.
AS A CICM MEMBER YOU CAN RECEIVE FREE LEGAL ADVICE FROM DWF
VISIT THE CICM WEBSITE AND CLICK ON THE FREE ADVICE LINE.
The Recognised Standard
www.cicm.com June 2017 25