Complementary service to advisers helping personal injury law firms exit the market
Recovery First is a provider of complementary services to insolvency practitioners, accountants, restructuring and corporate recovery specialists helping personal injury (PI) law firms withdraw from the market.
Working alongside you on an outsourced basis, we can assist your work with PI firms facing insolvency, cash flow and restructuring issues. The benefit we bring is our ability to help you achieve a much higher value than could be achieved by a discounted sale and we do this by facilitating, managing and controlling the earn out, so allowing 100% of the incumbent work in progress (WIP) to be realised.
A niche business, Recovery First was born out of firsthand experience at the sharp end of the derisory returns for creditors exposed to failing law firms. We once provided loan funding to law firms, but gained valuable experience of maximising the value of recovery in files when we placed the loan book into run off during 2008.
Recovery First was therefore founded with the single intention of transforming the value achieved from the WIP locked into any given caseload. Using our experience of running off books of PI cases across multiple firms, the systems we’ve developed ensures maximum possible value is extracted from any given book.
Our in depth understanding of the business economics of claimant law firms means we not only recognise the value of the files, but have also devised a business model that can remove many of the risks the buying community uses to achieve huge discounts when buying them.
From initial point of contact, we will provide a fast and discrete turnaround to completed legals and full distribution of workload, in a fully compliant process.
Solvent PI firms wishing to make a structured exit from the market should visit pi-solutions.co.uk
How it works…
View our Recovery First case flow to see how we can help you to manage the transfer of your files…