11 months ago

June 2017 Credit Management magazine

The CICM magazine for consumer and commercial credit professionals


THE PERFECT VENUE FOR THIS YEAR’S CICM FELLOWS’ LUNCH 2017 This year we are inviting you to a truly unique experience at the most exclusive private members club in London. Join us for a spot of luxury with a magical mix of 18th century splendour and 21st century avant-garde. Home House is the perfect venue for this year’s Fellows' Lunch. WEDNESDAY, 7 JUNE 2017 Arrival drinks served at 12:00 Tickets are £128.00+VAT per person To book your seat, please email HOME HOUSE, 20 PORTMAN SQUARE, MARYLEBONE, LONDON W1H 6LW

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 W 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 David Scottow FCICM Senior Director T +44(0)113 2616169 E 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 June 2017 25

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