The insolvency service awards major recovery contract
The Insolvency Service, the executive agency of the Department for Business Innovation & Skills (BIS), has awarded its Income Payments, Book Debts and Antecedent Recovery contract to national law firm Clarke Willmott LLP following an open European Union Procurement process.
This prestigious three year contract is due to commence at the end of the summer. Clarke Willmott’s Debt Recovery Team will be assisting The Insolvency Service in collecting payments due from individuals post-Bankruptcy as well as recovering debts due to insolvent estates. These debts represent the largest income stream to the Insolvency Service with £35 million collected in 2011/2012.
The contract will call upon Clarke Willmott’s Restructuring and Insolvency Department to pursue claims against directors for breach of duty. Additionally, the Department will be investigating and pursuing claims against third parties for the recovery of money and assets disposed of in anticipation of liquidation or bankruptcy.
Jane Dunlop, who heads up the Debt Recovery Team at Clarke Willmott, said: “This prestigious contract win builds on our extensive track record and success in debt recovery for the Government sector, where we have also acted on behalf of HMRC, the Enforcement Directorate, the Cabinet Office, MOD and the Department for Transport.
“In addition to Government organisations we have worked for large utility companies, management agents, insurance companies, large commercial clients and private individuals, recovering in excess of £490 million.
“Our success is testimony to the combination of our highly efficient and fair debt recovery processes.
“We utilise Linetime’s debt recovery solution (Liberate) to support our business. The Liberate system offers comprehensive workflow creation, case management and reporting tools yet has the benefit of being user friendly for both our internal recovery team and for our clients externally via our case review website.
“Combined with our experience, Liberate provides us with an excellent platform on which to build client specific recovery processes to meet both a client’s current needs and to develop ideas for future improvements.
“The long standing partnership which we have with Linetime has proved to be a significant factor in our success in delivering both volume services as well as more individual matters such as the Antecedent Recoveries.“
The contract also includes an option to extend for a further 2 years.
We would like to thank Clarke Willmott for use of this article.